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USD/CHF Price Analysis: Extends gains for fifth-day hovers above 200-DMA

  • USD/CHF up 0.07%, trading around 0.9015, after breaching 200-DMA at 0.9005.
  • Wall Street gains and falling commodity prices indicate a shift towards riskier assets.
  • Key levels to watch are October 3, high at 0.9245, and August 30, low at 0.8744.

USD/CHF prolongs its gains to five consecutive days, breaching the 200-day moving average (DMA) at 0.9005, with buyers maintaining the pair in positive territory, up 0.07%, hovering around the 0.9015 area.

Wall Street trades with gains, with traders unfazed by the Middle East conflict. In fact, falling commodity prices are seen as a sign that market players are looking toward riskier assets, a headwind for the safe-haven status of the Swissie.

Aside from this, the USD/CHF daily chart portrays the pair as neutral to upward biased but shy of breaking the latest cycle high reached on October 3, at 0.9245. If buyers lift the exchange rates past the latter, the uptrend would likely extend toward the March 2 daily high at 0.9440.

On the other hand, if USD/CHF sellers moved in and dragged the spot price below 0.9000, they could push the pair toward the October 24 low of 0.8887 before falling to the August 30 pivot low of 0.8744.

USD/CHF Price Action – Daily chart

USD/CHF Technical Levels

USD/CHF

Overview
Today last price0.9018
Today Daily Change-0.0010
Today Daily Change %-0.11
Today daily open0.9028
 
Trends
Daily SMA200.9034
Daily SMA500.8977
Daily SMA1000.8897
Daily SMA2000.9008
 
Levels
Previous Daily High0.9035
Previous Daily Low0.898
Previous Weekly High0.9035
Previous Weekly Low0.8888
Previous Monthly High0.9225
Previous Monthly Low0.8795
Daily Fibonacci 38.2%0.9014
Daily Fibonacci 61.8%0.9001
Daily Pivot Point S10.8994
Daily Pivot Point S20.896
Daily Pivot Point S30.894
Daily Pivot Point R10.9049
Daily Pivot Point R20.9069
Daily Pivot Point R30.9103

Author

Christian Borjon Valencia

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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