#USDCHF @ 0.91956 remains range-bound though it meanders slightly below the 0.9200 figure. (Pivot Orderbook analysis)

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• USD/CHF remains range-bound though it meanders slightly below the 0.9200 figure.
• USD/CHF: If it reclaims the 50-day EMA, it will shift neutral; otherwise, a resumption of the downtrend is likely.

The pair currently trades last at 0.91956.

The previous day high was 0.929 while the previous day low was 0.9192. The daily 38.2% Fib levels comes at 0.9229, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9252, expected to provide resistance.

The USD/CHF drops for two consecutive days, though buyers are reclaiming the February 7 daily low of 0.9191, as they are eyeing to reclaim the 50-day EMA at 0.9299. At the time of writing, the USD/CHF exchanges hands at around 0.9200.

After dropping beneath 0.9200, the USD/CHF encountered solid support at around 0.9180s, beneath a two-month-old downslope resistance trendline, that turned support. It should be said that the USD/CHF pair is still neutral to downward biased, but with the 20-day Exponential Moving Average (EMA) resting at 0.9215, the USD/CHF could rally in the near term.

Nevertheless, oscillators like the Relative Strength Index (RSI) suggest that a bearish continuation is expected after crossing beneath the 50 mid-line. Contrarily, the Rate of Change (RoC) indicates sideways action.

For the USD/CHF to shift neutral, buyers must reclaim the 50-day EMA at 0.9299. Once that happens, then USD/CHF buyers could be poised to test the 100-day EMA at 0.9416. ahead of the 200-day EMA at 0.9478.

For a resumption of the downtrend, the USD/CHF needs to crack the February 3 daily low of 0.9112, which could pave the way for a retest of the YTD low at 0.9059.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.92 at the time of writing. Pair opened at 0.9219 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 @ 0.9215, 50 SMA 0.9277, 100 SMA @ 0.954 and 200 SMA @ 0.9614.

The previous day high was 0.929 while the previous day low was 0.9192. The daily 38.2% Fib levels comes at 0.9229, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9252, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9177, 0.9136, 0.908
• Pivot resistance is noted at 0.9275, 0.9331, 0.9373

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