The USD/CHF currency pair, currently trading at a rate of 0.88845, experienced a significant drop to reach a low of 0.8889, the lowest level seen in two months. This decline of 0.72% was a result of the release of disappointing US employment figures and a weakened US Dollar.
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- USD/CHF plunges to a two-month low of 0.8889, down 0.72%, due to weaker-than-expected US labor data and a weakened US Dollar.
The pair currently trades last at 0.88845.
The previous day high was 0.8998 while the previous day low was 0.8951. The daily 38.2% Fib levels comes at 0.8969, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.898, expected to provide resistance.
USD/CHF dives into a new two-month-old on Friday after labor data from the United States (US) was softer than expected, weakening the US Dollar (USD). Earlier, the USD/CHF hit a daily high of 0.8970, which dropped below the 0.8900 figure on the data release. The USD/CHF is trading at 0.8889, down 0.72%.
From a daily chart perspective, the USD/CHF extended its losses past the 0.8900 mark after breaking a two-month-old support trendline. That exacerbated the USD/CHF fall below the June 16 swing low of 0.8901, intermediate support opening the door for a test of the year-to-date (YTD) low of 0.8819. Nevertheless, the USD/CHF must surpass the 0.8850 psychological level on its way down.
Notably, the Relative Strength Index (RSI) indicator and the three-day Rate of Change (RoC) suggested that sellers remain in charge, as both turned bearish.
Conversely, if USD/CHF buyers reclaim 0.8900, the first resistance would emerge at 0.8950. A breach of the latter, the USD/CHF could rally to the 20-day EMA at 0.8967, followed by the 50-day EMA at 0.8997. A breach of the latter will put into play the 0.9000 figure.
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.8888 at the time of writing. Pair opened at 0.8952 and is trading with a change of -0.71 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8888 |
| 1 | Today Daily Change | -0.0064 |
| 2 | Today Daily Change % | -0.7100 |
| 3 | Today daily open | 0.8952 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.8976, 50 SMA 0.8985, 100 SMA @ 0.9074 and 200 SMA @ 0.9287.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8976 |
| 1 | Daily SMA50 | 0.8985 |
| 2 | Daily SMA100 | 0.9074 |
| 3 | Daily SMA200 | 0.9287 |
The previous day high was 0.8998 while the previous day low was 0.8951. The daily 38.2% Fib levels comes at 0.8969, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.898, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.8936, 0.892, 0.8889
- Pivot resistance is noted at 0.8983, 0.9014, 0.903
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8998 |
| Previous Daily Low | 0.8951 |
| Previous Weekly High | 0.9017 |
| Previous Weekly Low | 0.8912 |
| Previous Monthly High | 0.9120 |
| Previous Monthly Low | 0.8902 |
| Daily Fibonacci 38.2% | 0.8969 |
| Daily Fibonacci 61.8% | 0.8980 |
| Daily Pivot Point S1 | 0.8936 |
| Daily Pivot Point S2 | 0.8920 |
| Daily Pivot Point S3 | 0.8889 |
| Daily Pivot Point R1 | 0.8983 |
| Daily Pivot Point R2 | 0.9014 |
| Daily Pivot Point R3 | 0.9030 |
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