The USDCHF currency pair dropped to approximately 0.9150 from its recent peak of 0.9225.
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- USD/CHF retreats to around 0.9150 after reaching a new cycle high at 0.9225.
The pair currently trades last at 0.91627.
The previous day high was 0.9225 while the previous day low was 0.9145. The daily 38.2% Fib levels comes at 0.9195, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9176, expected to provide resistance.
USD/CHF reverses its direction after rallying for 16 straight days, though the pair loses steam as technical indicators signal the major is overbought. Hence, the USD/CHF is trading at around 0.9150s, down 0.57%.
The uptrend remains intact, as shown by the daily chart, as the USD/CHF reached a new cycle high at 0.9225 and broke above the 200-day moving average (DMA) at 0.9029. However, to resume its uptrend, the major must rally past the former, so buyers can challenge the year-to-date (YTD) highs at 0.9440. A breach of the latter can open the door for parity.
In short, the USD/CHF hourly chart portrays the break of market structure on the downside. After hitting a multi-month high, the major retraced below 0.9200, extending its losses past the 50-hour moving average (HMA) at 0.9182. That exacerbated a fall below the 61.8% Fibonacci retracement, though lately buyers stepped in, and lifted the spot price above 0.9159. If the USD/CHF reclaims 0.9200, a test of September’s high at 0.9225 is on the cards. Otherwise, expect a drop towards 0.9100, followed by the 200-HMA at 0.9071.
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.9158 at the time of writing. Pair opened at 0.9213 and is trading with a change of -0.6 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.9158 |
| 1 | Today Daily Change | -0.0055 |
| 2 | Today Daily Change % | -0.6000 |
| 3 | Today daily open | 0.9213 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 0.8971, 50 SMA 0.8841, 100 SMA @ 0.8894 and 200 SMA @ 0.9033.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8971 |
| 1 | Daily SMA50 | 0.8841 |
| 2 | Daily SMA100 | 0.8894 |
| 3 | Daily SMA200 | 0.9033 |
The previous day high was 0.9225 while the previous day low was 0.9145. The daily 38.2% Fib levels comes at 0.9195, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9176, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.9164, 0.9114, 0.9083
- Pivot resistance is noted at 0.9244, 0.9275, 0.9325
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.9225 |
| Previous Daily Low | 0.9145 |
| Previous Weekly High | 0.9078 |
| Previous Weekly Low | 0.8932 |
| Previous Monthly High | 0.8876 |
| Previous Monthly Low | 0.8690 |
| Daily Fibonacci 38.2% | 0.9195 |
| Daily Fibonacci 61.8% | 0.9176 |
| Daily Pivot Point S1 | 0.9164 |
| Daily Pivot Point S2 | 0.9114 |
| Daily Pivot Point S3 | 0.9083 |
| Daily Pivot Point R1 | 0.9244 |
| Daily Pivot Point R2 | 0.9275 |
| Daily Pivot Point R3 | 0.9325 |
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