The currency pair USDCHF is currently being traded at the rate of 0.9058. It is facing resistance on the upper end at 0.9117/20 while the convergence of the 50 and 20-day EMAs at 0.9041 and 0.9039 is capping its downside movements.

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• USD/CHF trades at 0.9058, capped on the topside by 0.9117/20; on the downside by the confluence of the 50 and 20-day EMAs at 0.9041 and 0.9039.

The pair currently trades last at 0.90590.

The previous day high was 0.9109 while the previous day low was 0.9016. The daily 38.2% Fib levels comes at 0.9074, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9051, expected to provide support.

USD/CHF halts its rally to just two days, retraces from weekly highs reached on Monday at 0.9109, shy of testing the 100-day Exponential Moving Average (EMA) at 0.9117. Therefore, the USD/CHF is trading at 0.9058, below its opening price by 0.34%.

The USD/CHF daily chart is neutral to downward biased but cushioned on the downside by the presence of the 50-day Exponential Moving Average (EMA) at 0.9041, immediately followed by the 20-day EMA at 0.9039. Conversely, USD/CHF’s first resistance is the weekly high, followed by the 100-day EMA and April 10 high at the 0.9117/20 area, tested three times. However, the USD/CHF remains trading below the latter since the end of March 2023.

If USD/CHF would resume its downtrend, it needs a decisive break below the June 9 swing low of 0.8980. Once cleared, the USD/CHF would slide toward June 9, 2021, a low of 0.8925, before testing the 0.8900 figure.

Conversely, for a USD/CHF bullish continuation, the pair must claim the 0.9120 area. Once broken, the USD/CHF next supply zone would be the April 3 high at 0.9196 before challenging the 0.9200 handle.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9058 at the time of writing. Pair opened at 0.909 and is trading with a change of -0.35 % .

The pair is trading above its 20 Daily moving average @ 0.9043, above its 50 Daily moving average @ 0.8989 , below its 100 Daily moving average @ 0.9118 and below its 200 Daily moving average @ 0.9354

The previous day high was 0.9109 while the previous day low was 0.9016. The daily 38.2% Fib levels comes at 0.9074, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9051, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.9034, 0.8978, 0.8941
• Pivot resistance is noted at 0.9128, 0.9165, 0.9221

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