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USD/CHF Price Analysis: Reclaims the 50-DMA and is back above 0.9300

  • USD/CHF is almost flat as Thursday’s Asian session kicks in.
  • USD/CHF Price Analysis: Downward biased, though it appears to have bottomed around 0.9000.

The USD/CHF clings to 0.9300 as the Asian Pacific session begins, but it’s trading beneath its opening price after printing a new weekly high of 0.9318 and gaining 0.39% on Wednesday. At the time of typing, the USD/CHF exchanges hands at 0.9302.

The USD/CHF pair is neutral to downward biased, with the long-term Exponential Moving Averages (EMAs), the 100 and 200-day EMAs, sitting above the exchange rate each at 0.9383 and 0.9454, respectively. In addition, the USD/CHF spot price remains below the January 6 daily high of 0.9409, which, once broken, could send the pair rallying to test the 200-day EMA.

Even though the USD/CHF bias is tilted to the downside, the pair appears to have bottomed around 0.9059. Also, the Relative Strength Index (RSI) and the Rate of Change (RoC) are bullish, suggesting buyers are piling in.

Therefore, the USD/CHF path of least resistance is upward in the near term. The first resistance would be the last week’s high at 0.9331. A decisive break and the following resistance tested would be the 100-day EMA at 0.9383, ahead of the 0.9400 figure. Once those two supply zones are conquered, buyers will aim toward the 200-day EMA at 0.9454 before posing a threat of the 0.9500 figure.

Contrarily, if the USD/CHF drops below the 50-day EMA at 0.9281, that would exacerbate a fall toward the February 14 daily low at 0.9135.

USD/CHF Daily chart

USD/CHF Key technical levels

USD/CHF

Overview
Today last price0.9308
Today Daily Change0.0032
Today Daily Change %0.34
Today daily open0.9276
 
Trends
Daily SMA200.9216
Daily SMA500.9247
Daily SMA1000.9481
Daily SMA2000.9579
 
Levels
Previous Daily High0.9283
Previous Daily Low0.9228
Previous Weekly High0.9332
Previous Weekly Low0.9138
Previous Monthly High0.941
Previous Monthly Low0.9085
Daily Fibonacci 38.2%0.9262
Daily Fibonacci 61.8%0.9249
Daily Pivot Point S10.9242
Daily Pivot Point S20.9208
Daily Pivot Point S30.9188
Daily Pivot Point R10.9297
Daily Pivot Point R20.9317
Daily Pivot Point R30.9352

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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