#USDCHF @ 0.90977 holds lower ground at intraday low during the first loss-making day in three., @nehcap view: Limited downside expected (Pivot Orderbook analysis)

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• USD/CHF holds lower ground at intraday low during the first loss-making day in three.
• Overbought RSI, looming bear cross on MACD triggered Swiss Franc pair’s fall.
• Convergence of 100-HMA, previous resistance line challenges bears.

The pair currently trades last at 0.90977.

The previous day high was 0.9107 while the previous day low was 0.9043. The daily 38.2% Fib levels comes at 0.9083, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9068, expected to provide support.

USD/CHF remains pressured around the intraday low near 0.9090, despite the latest corrective bounce off the day’s low heading into Thursday’s European session. In doing so, the Swiss Franc (CHF) pair drops for the first day in three.

While tracing the catalysts for the quote’s latest weakness, the RSI (14) line’s retreat from the overbought territory and previously looming bear cross on MACD, now confirmed, gain major attention.

However, the bullish triangle breakout keeps the USD/CHF pair buyers hopeful unless the quote drops back below the one-week-old descending triangle’s top line, now immediate support near 0.9075. Adding strength to the 0.9075 support is the 100-Hour Moving Average (HMA).

Should the pair slide beneath the 0.9075 support confluence, it can quickly challenge the double bottoms marked around 0.9035-30, forming part of the aforementioned triangle.

On the contrary, the USD/CHF pair’s recovery moves need to refresh the weekly top, currently around 0.9110, to convince bulls for more upside runs, even if they hold the reins.

Even so, a one-week-old horizontal resistance area surrounding 0.9115-20 can act as the last defense of the USD/CHF pair sellers.

Overall, USD/CHF remains on the bull’s radar despite snapping a two-day winning streak.

Trend: Limited downside expected

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9089 at the time of writing. Pair opened at 0.9102 and is trading with a change of -0.14 % .

The pair is trading above its 20 Daily moving average @ 0.9031, above its 50 Daily moving average @ 0.8994 , below its 100 Daily moving average @ 0.9123 and below its 200 Daily moving average @ 0.9366

The previous day high was 0.9107 while the previous day low was 0.9043. The daily 38.2% Fib levels comes at 0.9083, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9068, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.9061, 0.902, 0.8997
• Pivot resistance is noted at 0.9125, 0.9148, 0.9189

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