#USDCHF @ 0.92269 rebounds around 0.9170s as buyers stepped in, lifting the pair nearby 0.9200. (Pivot Orderbook analysis)

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• USD/CHF rebounds around 0.9170s as buyers stepped in, lifting the pair nearby 0.9200.
• For the USD/CHF to extend its losses, it needs a daily close below 0.9200.
• Otherwise, a bullish harami candlestick pattern could exacerbate a USD/CHF rally toward 0.9300.

The pair currently trades last at 0.92269.

The previous day high was 0.9283 while the previous day low was 0.9167. The daily 38.2% Fib levels comes at 0.9211, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9239, expected to provide resistance.

USD/CHF is trimming Monday’s losses and bounces from daily lows, as sellers failed to gain traction beneath the 0.9200 figure, achieving a daily low of 0.9194 before giving way to buyers. Therefore, the USD/CHF is forming a bullish harami candlestick pattern, pending confirmation. Therefore, the USD/CHF is trading at 0.9234, gaining 0.25%.

After failing to extend its losses below 0.9167, the USD/CHF stages a comeback. Formation of a bullish harami could open the door for further upside, though it needs to be confirmed once the USD/CHF reclaims 0.9292. If that scenario is achieved, then the USD/CHF next resistance would be the 20-day Exponential Moving Average (EMA), which tracks bullish/bearishness price action in the pair, at 0.9299. followed by the last week’s high of 0.9409.

However, the Relative Strength Index (RSI) remains at bearish territory, though aiming up, keeping buyer hopeful of higher prices.

As an alternate scenario, the USD/CHF key support levels would be the 0.9200 figure, followed by the January 9 daily low of 0.9167, ahead of the 0.9100 mark.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9231 at the time of writing. Pair opened at 0.9212 and is trading with a change of 0.21 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.929, 50 SMA 0.9458, 100 SMA @ 0.9639 and 200 SMA @ 0.9645.

The previous day high was 0.9283 while the previous day low was 0.9167. The daily 38.2% Fib levels comes at 0.9211, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9239, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9158, 0.9105, 0.9042
• Pivot resistance is noted at 0.9274, 0.9337, 0.939

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