The USDCHF pair, currently trading at 0.89660, has recovered and is experiencing a small decrease of 0.02% after hitting its lowest level in two days. This rebound is attributed to speculation that the Federal Reserve may tighten its policies.
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- USD/CHF rebounds and trades with minor losses of 0.02%, rallying from two-day lows amid Federal Reserve tightening speculations.
The pair currently trades last at 0.89660.
The previous day high was 0.897 while the previous day low was 0.8924. The daily 38.2% Fib levels comes at 0.8942, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8953, expected to provide support.
As the Asian session began, the USD/CHF traded with minuscule losses of 0.02%; following Wednesday’s session, the USD/CHF pair rallied from two-day lows of 0.8922 and rose toward a daily high of 0.8687. Speculations of further tightening by the Federal Reserve (Fed) spurred a leg-up in the USD/CHF. At the time of writing, the USD/CHF exchanges hands at 0.8966.
From a medium-term perspective, the USD/CHF is neutral biased but testing a downslope resistance trendline at around the 0.8970/90 area. Oscillators like the Relative Strength Index (RSI), although in bearish territory, is about to turn bullish as it closes to the 50-midline. Meanwhile, the three-day Rate of Change (RoC) suggests buyers are gathering momentum, despite lacking the strength to pierce the 0.9000 mark.
If USD/CHF reclaims the 0.9000 figure, immediate resistance will emerge from the 50-day Exponential Moving Average (EMA) at 0.9008. above that price level lies a downslope resistance trendline drawn in late May, which passes around 0.9030/40 before the USD/CHF can rally toward the 100-day EMA at 0.9082.
Conversely, the USD/CHF first support would be the June 28 daily low at 0.8922, followed by the 0.8900 figure, ahead of challenging the year-to-date (YTD) low of 0.8819.
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.8967 at the time of writing. Pair opened at 0.8936 and is trading with a change of 0.35 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8967 |
| 1 | Today Daily Change | 0.0031 |
| 2 | Today Daily Change % | 0.3500 |
| 3 | Today daily open | 0.8936 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9011, 50 SMA 0.8979, 100 SMA @ 0.9092 and 200 SMA @ 0.9316.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.9011 |
| 1 | Daily SMA50 | 0.8979 |
| 2 | Daily SMA100 | 0.9092 |
| 3 | Daily SMA200 | 0.9316 |
The previous day high was 0.897 while the previous day low was 0.8924. The daily 38.2% Fib levels comes at 0.8942, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8953, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.8917, 0.8897, 0.887
- Pivot resistance is noted at 0.8963, 0.899, 0.901
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8970 |
| Previous Daily Low | 0.8924 |
| Previous Weekly High | 0.9013 |
| Previous Weekly Low | 0.8907 |
| Previous Monthly High | 0.9148 |
| Previous Monthly Low | 0.8820 |
| Daily Fibonacci 38.2% | 0.8942 |
| Daily Fibonacci 61.8% | 0.8953 |
| Daily Pivot Point S1 | 0.8917 |
| Daily Pivot Point S2 | 0.8897 |
| Daily Pivot Point S3 | 0.8870 |
| Daily Pivot Point R1 | 0.8963 |
| Daily Pivot Point R2 | 0.8990 |
| Daily Pivot Point R3 | 0.9010 |
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