- USD/CHF is balanced in a narrow range of 0.9220-0.9240 below 61.8% Fibo retracement.
- A death cross of 50 and 200-period EMAs signals more downside going forward.
- The RSI (14) has slipped into a bearish range of 20.00-40.00, which indicates more pain ahead.
The USD/CHF pair is oscillating in a narrow range of 0.9220-0.9240 in early Tokyo. The asset has witnessed a steep fall recently after dropping below the previous week’s low at 0.9260.
On an hourly scale, USD/CHF is staying below 61.8% Fibonacci retracement (placed monthly lows and highs at 0.9150 and 0.9460 respectively) placed at 0.9269. The asset is oscillating near the declining trendline placed from March 21 low at 0.9294 adjoining the previous week’s low at 0.9260.
A death cross from the 50 and 200-period Exponential Moving Averages (EMAs) at 0.9328 triggered a bear attack on the counter.
The Relative Strength Index (RSI) (14) has shifted into a bearish range of 20.00-40.00 from 40.00-60.00, which indicates more pain ahead.
For further downside, Swiss franc bulls need to drag the asset below the ongoing consolidation of 0.9220-0.9240. This will expose the pair to more downside at March 7 low and monthly lows at 0.9197 and 0.9150 respectively.
On the contrary, greenback bulls can obtain control if the asset advances above the 20 EMA at 0.9281. This will drive the asset towards the 200 EMA at 0.9313, followed by 38.2% Fibo retracement at 0.9341.
USD/CHF hourly chart
-637842751172601252.png)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD stays near 1.1350 after mixed EU data
EUR/USD remains on the back foot, trading near 1.1350 in the European trading hours on Tuesday. The data from the Eurozone showed that Industrial Production expanded by 1.1% in February. On a negative note, ZEW Survey - Economic Sentiment slumped to -18.5 in April from 39.8.
GBP/USD battles 1.3200 after UK jobs data
GBP/USD is defending minor bids near the 1.3200 mark in the early European session on Tuesday. The latest data from the UK showed that Unemployment Rate steadied at 4% in the quarter to February while Average Earnings disappointed, weighing negatively on the Pound Sterling.
Gold price bulls retain control amid trade jitters, Fed rate cut bets and weaker USD
Gold price (XAU/USD) maintains its bid tone through the first half of the European session on Tuesday and currently trades around the $3,230 area, well within striking distance of the all-time peak touched the previous day.
Canada CPI expected to hold steady in March ahead of BoC policy decision
Statistics Canada will release the March Consumer Price Index report on Tuesday. Annualised inflation is expected to have held steady at 2.6%, matching the February reading. Market players anticipate a monthly advance of 0.7%, easing from the previous 1.1%.
Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.