USD/CHF Price Analysis: Rises back above 0.9200 as bullish harami emerges

USD/CHF rebounds around 0.9170s as buyers stepped in, lifting the pair nearby 0.9200.
For the USD/CHF to extend its losses, it needs a daily close below 0.9200.
Otherwise, a bullish harami candlestick pattern could exacerbate a USD/CHF rally toward 0.9300.

Christian Borjon Valencia FXStreet

USD/CHF is trimming Monday’s losses and bounces from daily lows, as sellers failed to gain traction beneath the 0.9200 figure, achieving a daily low of 0.9194 before giving way to buyers. Therefore, the USD/CHF is forming a bullish harami candlestick pattern, pending confirmation. Therefore, the USD/CHF is trading at 0.9234, gaining 0.25%.

USD/CHF Price Analysis: Technical outlook

After failing to extend its losses below 0.9167, the USD/CHF stages a comeback. Formation of a bullish harami could open the door for further upside, though it needs to be confirmed once the USD/CHF reclaims 0.9292. If that scenario is achieved, then the USD/CHF next resistance would be the 20-day Exponential Moving Average (EMA), which tracks bullish/bearishness price action in the pair, at 0.9299. followed by the last week’s high of 0.9409.

However, the Relative Strength Index (RSI) remains at bearish territory, though aiming up, keeping buyer hopeful of higher prices.

As an alternate scenario, the USD/CHF key support levels would be the 0.9200 figure, followed by the January 9 daily low of 0.9167, ahead of the 0.9100 mark.

USD/CHF Key Technical Levels

USD/CHF

Overview
Today last price	0.9231
Today Daily Change	0.0019
Today Daily Change %	0.21
Today daily open	0.9212

Trends
Daily SMA20	0.929
Daily SMA50	0.9458
Daily SMA100	0.9639
Daily SMA200	0.9645

Levels
Previous Daily High	0.9283
Previous Daily Low	0.9167
Previous Weekly High	0.941
Previous Weekly Low	0.9223
Previous Monthly High	0.9471
Previous Monthly Low	0.9201
Daily Fibonacci 38.2%	0.9211
Daily Fibonacci 61.8%	0.9239
Daily Pivot Point S1	0.9158
Daily Pivot Point S2	0.9105
Daily Pivot Point S3	0.9042
Daily Pivot Point R1	0.9274
Daily Pivot Point R2	0.9337
Daily Pivot Point R3	0.939

Author

Christian Borjon Valencia

FXStreet

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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