#USDCHF @ 0.92876 consolidates within the 20 and 50-day EMAs at around 0.9285/95. (Pivot Orderbook analysis)

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• USD/CHF consolidates within the 20 and 50-day EMAs at around 0.9285/95.
• USD/CHF Price Analysis: To remain sideways, ahead of the FOMC’s meeting

The pair currently trades last at 0.92876.

The previous day high was 0.9301 while the previous day low was 0.924. The daily 38.2% Fib levels comes at 0.9263, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9278, expected to provide support.

USD/CHF traded sideways after Wall Street closed, with gains as risk appetite improved. Safe-haven flows spurred a light gain for the greenback on Monday of 0.35%. However, as the Asian session begins, the USD/CHF exchanges hands at 0.9287, almost flat.

After bottoming nearby the 2023 lows, the USD/CHF rallied 2.80%, near last week’s high at 0.9340. Nevertheless, the recent developments in the financial markets triggered flows toward the Swiss Franc (CHF), which recovered some ground. However, the exchange rate is stills above the 20-day Exponential Moving Average (EMA), acting as support at around 0.9283.

Oscillators suggest the USD/CHF pair would be seesawing around the 0.9300 area. With the US Federal Reserve (Fed) interest rate decision looming, the USD/CHF would remain trading within familiar levels.

Therefore, the USD/CHF first resistance would be the 100-day EMA at 0.9296. A breach of the latter will expose the 0.9300 figure, followed by the March 16 high at 0.9340 and the 100-day EMA at 0.9362, ahead of the 200-day EMA.

For a bearish continuation, the USD/CHF first’s test would be the 20-day EMA at 0.9285. Once cleared, the USD/CHF could dive towards 0.9229, the March 16 low, before falling to the March 15 daily low at 0.9122.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9288 at the time of writing. Pair opened at 0.926 and is trading with a change of 0.3 % .

The pair is trading below its 20 Daily moving average @ 0.9319, above its 50 Daily moving average @ 0.9259 , below its 100 Daily moving average @ 0.9367 and below its 200 Daily moving average @ 0.9547

The previous day high was 0.9301 while the previous day low was 0.924. The daily 38.2% Fib levels comes at 0.9263, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9278, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.9233, 0.9206, 0.9173
• Pivot resistance is noted at 0.9294, 0.9328, 0.9354

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