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USD/CHF Price Analysis: Struggles at 0.9400 and drops beyond the 100-DMA

  • USD/CHF plunges below the 100-day EMA, with sellers eyeing the 50-day EMA at 0.9310s.
  • Oscillators remain in negative territory, warranting further downside in the USD/CHF pair.
  • USD/CHF Price Analysis: Sellers reclaiming the 20-day EMA would pave the way to 0.9300.

The USD/CHF reverses its upward course and trims some of its weekly gains after the pair was shy of testing the 200-day Exponential Moving Average (EMA) at 0.9448. Consequently, sellers stepped in and tumbled the USD/CHF pair below 0.9400. At the time of typing, the USD/CHF is trading at 0.9357, down 0.59%.

USD/CHF Price action

During Thursday’s session, the USD/CHF retreated below 0.9400, with sellers reclaiming the 100-day EMA at 0.9384. Even though the USD/CHF is falling, it’s facing solid support around 0.93500, which, once cleared, could pave the USD/CHF’s way toward the 20-day EMA at 0.9333. A breach of the latter and the USD/CHF could fall to the 50-day EMA at 0.9316.

Oscillators like the Relative Strength Index (RSI) favor sellers, while the Rate of Change (RoC), portrays buyers losing momentum. Therefore, the USD/CHF could test the 0.9300 figure in the near term.

As an alternate scenario, the USD/CHF first resistance would be the 0.9400 figure. Once broken, the USD/CHF could test the YTD low at 0.9440 before reaching the 200-day EMA at 0.9448.

USD/CHF Daily chart

USD/CHF Technical levels

USD/CHF

Overview
Today last price0.9359
Today Daily Change-0.0053
Today Daily Change %-0.56
Today daily open0.9412
 
Trends
Daily SMA200.9314
Daily SMA500.9265
Daily SMA1000.9417
Daily SMA2000.9564
 
Levels
Previous Daily High0.9439
Previous Daily Low0.9389
Previous Weekly High0.944
Previous Weekly Low0.9342
Previous Monthly High0.9429
Previous Monthly Low0.9059
Daily Fibonacci 38.2%0.9408
Daily Fibonacci 61.8%0.942
Daily Pivot Point S10.9388
Daily Pivot Point S20.9363
Daily Pivot Point S30.9338
Daily Pivot Point R10.9438
Daily Pivot Point R20.9463
Daily Pivot Point R30.9488

Author

Christian Borjon Valencia

Christian Borjon began his career as a retail trader in 2010, mainly focused on technical analysis and strategies around it. He started as a swing trader, as he used to work in another industry unrelated to the financial markets.

More from Christian Borjon Valencia
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