USD/CHF Price Analysis: Seesaws around 0.9280s as oscillators turned neutral

USD/CHF consolidates within the 20 and 50-day EMAs at around 0.9285/95.
USD/CHF Price Analysis: To remain sideways, ahead of the FOMC’s meeting

Christian Borjon Valencia FXStreet

USD/CHF traded sideways after Wall Street closed, with gains as risk appetite improved. Safe-haven flows spurred a light gain for the greenback on Monday of 0.35%. However, as the Asian session begins, the USD/CHF exchanges hands at 0.9287, almost flat.

USD/CHF Price action

After bottoming nearby the 2023 lows, the USD/CHF rallied 2.80%, near last week’s high at 0.9340. Nevertheless, the recent developments in the financial markets triggered flows toward the Swiss Franc (CHF), which recovered some ground. However, the exchange rate is stills above the 20-day Exponential Moving Average (EMA), acting as support at around 0.9283.

Oscillators suggest the USD/CHF pair would be seesawing around the 0.9300 area. With the US Federal Reserve (Fed) interest rate decision looming, the USD/CHF would remain trading within familiar levels.

Therefore, the USD/CHF first resistance would be the 100-day EMA at 0.9296. A breach of the latter will expose the 0.9300 figure, followed by the March 16 high at 0.9340 and the 100-day EMA at 0.9362, ahead of the 200-day EMA.

For a bearish continuation, the USD/CHF first’s test would be the 20-day EMA at 0.9285. Once cleared, the USD/CHF could dive towards 0.9229, the March 16 low, before falling to the March 15 daily low at 0.9122.

USD/CHF Daily chart

USD/CHF Technical levels

USD/CHF

Overview
Today last price	0.9288
Today Daily Change	0.0028
Today Daily Change %	0.30
Today daily open	0.926

Trends
Daily SMA20	0.9319
Daily SMA50	0.9259
Daily SMA100	0.9367
Daily SMA200	0.9547

Levels
Previous Daily High	0.9301
Previous Daily Low	0.924
Previous Weekly High	0.9342
Previous Weekly Low	0.9072
Previous Monthly High	0.9429
Previous Monthly Low	0.9059
Daily Fibonacci 38.2%	0.9263
Daily Fibonacci 61.8%	0.9278
Daily Pivot Point S1	0.9233
Daily Pivot Point S2	0.9206
Daily Pivot Point S3	0.9173
Daily Pivot Point R1	0.9294
Daily Pivot Point R2	0.9328
Daily Pivot Point R3	0.9354

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.

EUR/USD meets initial support around 1.1800

EUR/USD remains on the back foot, although it has managed to reverse the initial strong pullback toward the 1.1800 region and regain some balance, hovering around the 1.1850 zone as the NA session draws to a close on Tuesday. Moving forward, market participants will now shift their attention to the release of the FOMC Minutes and US hard data on Wednesday.

GBP/USD bounces off lows, retargets 1.3550

After bottoming out just below the 1.3500 yardstick, GBP/USD now gathers some fresh bids and advances to the 1.3530-1.3540 band in the latter part of Tuesday’s session. Cable’s recovery comes as the Greenback surrenders part of its advance, although it keeps the bullish bias well in place for the day.

Gold remains offered below $5,000

Gold stays on the defensive on Tuesday, receding to the sub-$5,000 region per troy ounce on the back of the persistent move higher in the Greenback. The precious metal’s decline is also underpinned by the modest uptick in US Treasury yields across the spectrum.

Ethereum Price Forecast: BitMine extends ETH buying streak, says long-term outlook remains positive

Ethereum (ETH) treasury firm BitMine Immersion continued its weekly purchase of the top altcoin last week after acquiring 45,759 ETH.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.