#USDCHF @ 0.92026 Overall, US Dollar weakness and improvement in risk appetite weighed on the pair. (Pivot Orderbook analysis)

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• Overall, US Dollar weakness and improvement in risk appetite weighed on the USD/CHF pair.
• A USD/CHF daily close below 0.9200 could exacerbate a fall toward 2022 yearly lows.
• Otherwise, the USD/CHF could bounce at around YTD lows and climb above 0.9300.

The pair currently trades last at 0.92026.

The previous day high was 0.941 while the previous day low was 0.927. The daily 38.2% Fib levels comes at 0.9324, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9356, expected to provide resistance.

The USD/CHF drops back beneath a falling wedge top-trendline and extends its losses for two consecutive trading days, down by 0.73% as the US Dollar (USD) falls. At the time of writing, the USD/CHF is trading at 0.9202.

The USD/CHF daily chart portrays the resumption of the major’s downtrend. Failure to cling to gains around 0.9280s exacerbated a downfall toward its daily low of 0.9167, though buyers stepped around the daily lows, lifting the USD/CHF to current exchange rates. The USD/CHF stepped inside the falling wedge, a signal of bearishness. However, it would be needed a USD/CHF daily close below 0.9200 to pave the way for further downside. Otherwise, buyers could step in and lift the USD/CHF pair.

USD/CHF key support levels would be 0.9167. A breach of the latter would expose the February 21 daily low of 0.9150, followed by the 0.9100 mark, ahead of the 2022 year low of 0.9091. On the flip side, the USD/CHF first resistance would be 0.9200, which, once cleared, could pave the way towards today’s high of 0.9292, ahead of 0.9300.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9199 at the time of writing. Pair opened at 0.9277 and is trading with a change of -0.84 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9297, 50 SMA 0.9474, 100 SMA @ 0.9644 and 200 SMA @ 0.9645.

The previous day high was 0.941 while the previous day low was 0.927. The daily 38.2% Fib levels comes at 0.9324, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9356, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9228, 0.918, 0.9089
• Pivot resistance is noted at 0.9367, 0.9458, 0.9506

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