#USDCHF @ 0.94208 consolidates around 0.9380-9450s amidst the lack of a catalyst. (Pivot Orderbook analysis)

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• USD/CHF consolidates around 0.9380-9450s amidst the lack of a catalyst.
• USD/CHF Price Analysis: Break above the 200-EMA could pave the way towards 0.9550.

The pair currently trades last at 0.94208.

The previous day high was 0.9435 while the previous day low was 0.933. The daily 38.2% Fib levels comes at 0.9395, expected to provide support. Similarly, the daily 61.8% fib level is at 0.937, expected to provide support.

The USD/CHF hit a fresh three-day high at 0.9455 but shifted downwards as US Treasury bond yields weakened the US Dollar (USD) against the Swiss Franc (CHF). At the time of writing, the USD/CHF is trading at 0.9419., below its opening price by a minuscule 0.07%.

From a daily chart perspective, the USD/CHF is downward biased, though it’s forming a falling wedge that suggests prices would break to the upside. Of note, the USD/CHF registered a new 8-month low of around 0.9326 last Friday, and so far, the USD/CHF has remained subdued around 0.9320-0.9455.

Oscillators like the Relative Strength Index (RSI) is almost flat at bearish territory, while the Rate of Change (RoC) suggests that selling pressure is fading. If the USD/CHF breaks above 0.9455, that could open the door toward 0.9500.

Short term, the USD/CHF 1-hour chart depicts the pair as neutral-upward biased. The EMAs are almost flat, around the spot price, though the 200-EMA at 0.9436 has been acting as solid resistance as prices tumbled around that area. Break above the latter could open the door towards the 0.9500 figure, followed by the November 30 daily high at 0.9547. As an alternate scenario, the USD/CHF first support would be the intersection of the 20 and 50-EMAs around 0.9411-13, followed by the 100- EMA at 0.9405 and the 0.9400 mark.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9419 at the time of writing. Pair opened at 0.9434 and is trading with a change of -0.16 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9512, 50 SMA 0.9772, 100 SMA @ 0.9704 and 200 SMA @ 0.9643.

The previous day high was 0.9435 while the previous day low was 0.933. The daily 38.2% Fib levels comes at 0.9395, expected to provide support. Similarly, the daily 61.8% fib level is at 0.937, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.9365, 0.9296, 0.9261
• Pivot resistance is noted at 0.9469, 0.9504, 0.9573

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