USD/CHF Price Analysis: Hits lowest since May 2015

USD/CHF slips to multi-year lows below 0.9120 on broad-based dollar sell-off.
Technical indicators like the RSI suggest extreme oversold conditions.

Omkar Godbole FXStreet Contributor

The USD/CHF pair fell to 0.9116 during Thursday's Asian trading hours to hit the lowest level since May 2015.

The pair has dropped by over 3.6% this month and is down over 5.6% on a year-to-date basis. With the Federal Reserve reiterating dovish bias on Wednesday, the doors remain open for a further decline in USD/CHF.

However, we may see a minor corrective bounce as the 14-day relative strength index is reporting extreme oversold conditions. In addition, the 4-hour chart RSI is signaling a bullish divergence.

As such, the pair may revisit the descending 50-hour simple moving average (SMA), currently at 0.9170. At press time., USD/CHF is trading at 0.9124.

Daily chart

Trend: Bearish but oversold

Technical levels

USD/CHF

Overview
Today last price	0.913
Today Daily Change	0.0004
Today Daily Change %	0.04
Today daily open	0.9126

Trends
Daily SMA20	0.9351
Daily SMA50	0.9472
Daily SMA100	0.9581
Daily SMA200	0.9681

Levels
Previous Daily High	0.9188
Previous Daily Low	0.9117
Previous Weekly High	0.941
Previous Weekly Low	0.9204
Previous Monthly High	0.9651
Previous Monthly Low	0.9376
Daily Fibonacci 38.2%	0.9144
Daily Fibonacci 61.8%	0.9161
Daily Pivot Point S1	0.9099
Daily Pivot Point S2	0.9073
Daily Pivot Point S3	0.9029
Daily Pivot Point R1	0.917
Daily Pivot Point R2	0.9214
Daily Pivot Point R3	0.9241

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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