#USDCHF @ 0.91452 The is trapped within a 140 pip area, trendless and fluctuating around the 20-day EMA. (Pivot Orderbook analysis)

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• The USD/CHF is trapped within a 140 pip area, trendless and fluctuating around the 20-day EMA.
• USD/CHF Price Analysis: The pair is neutral downwards, and it could test the YTD low during the session.

The pair currently trades last at 0.91452.

The previous day high was 0.9288 while the previous day low was 0.915. The daily 38.2% Fib levels comes at 0.9203, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9236, expected to provide resistance.

The USD/CHF remains subdued in Wednesday’s North American session, with markets awaiting the Federal Reserve’s (Fed) decision regarding its monetary policy. At the time of typing, the USD/CHF exchanges hands at around 0.9150s, almost flat.

The pair remains consolidated in the 0.9140 to 0.9280 area for the tenth consecutive day, though the USD/CHF fell and hit a new weekly lof of 0.9136 before recovering some ground, resting at around the 0.9150 area. Nevertheless, the USD/CHF bears remain in charge, as the daily EMAs sits above the spot price, while oscillators like the Relative Strength Index (RSI) and the Rate of Change (RoC) suggest the neutral-downward bias remains intact.

The USD/CHF support areas would be the day’s low at 0.9136, followed by the 0.9100 figure. Once broken it will exacerbate a USD/CHF fall to the YTD low of 0.9085, followed by the 0.9000 psychological figure.

On the other hand, if the USD/CHF reclaims 0.9200, then the 20-day EMA would be up for grabs at 0.9220. Once done, the USD/CHF could aim towards the January 31 daily high at 0.9288, on its way to the 0.9300 psychological barrier.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9158 at the time of writing. Pair opened at 0.9154 and is trading with a change of 0.04 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9235, 50 SMA 0.9304, 100 SMA @ 0.9562 and 200 SMA @ 0.9628.

The previous day high was 0.9288 while the previous day low was 0.915. The daily 38.2% Fib levels comes at 0.9203, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9236, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9107, 0.906, 0.8969
• Pivot resistance is noted at 0.9245, 0.9336, 0.9383

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