#USDCHF @ 0.92322 rises but clashes with the 20-day EMA and retreats some of its gains. (Pivot Orderbook analysis)

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• USD/CHF rises but clashes with the 20-day EMA and retreats some of its gains.
• The USD/CHF failure to crack 0.9300 exacerbated a pullback towards 0.9220s.

The pair currently trades last at 0.92322.

The previous day high was 0.9241 while the previous day low was 0.916. The daily 38.2% Fib levels comes at 0.921, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9191, expected to provide support.

The USD/CHF climbs slightly after hitting a daily low of 0.9192 and reclaims the 0.9200 figure in the mid-North American session. Nevertheless, the USD/CHF surrendered some of its earlier gains once it failed to stay above the 20-day Exponential Moving Average (EMA). At the time of writing, the USD/CHF is trading at 0.9228.

The daily chart shows that the USD/CHF remains neutral to downward biased. It was further cemented by the USD/CHF pair, which after reaching a daily high of 0.9297, it was unable to stay above the 20-day EMA at 0.9248. The USD/CHF retreated further but persisted in positive territory.

If the USD/CHF registers a daily close around Tuesday’s open, that will form a doji, which could exacerbate a resumption of the downtrend, posing a threat to the YTD low of 0.9091. Nevertheless, on its way south, the USD/CHF would find some hurdles, like the 0.9150 February 21 daily low, followed by the 0.9100 mark, and then the YTD low.

As an alternate scenario, the USD/CHF first resistance would be the 20-day EMA at 0.9248, followed by 0.9300. A breach of the latter will expose the 50-day EMA at 0.9356, followed by 0.9400.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9226 at the time of writing. Pair opened at 0.9223 and is trading with a change of 0.03 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9257, 50 SMA 0.9341, 100 SMA @ 0.959 and 200 SMA @ 0.9638.

The previous day high was 0.9241 while the previous day low was 0.916. The daily 38.2% Fib levels comes at 0.921, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9191, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.9175, 0.9127, 0.9094
• Pivot resistance is noted at 0.9256, 0.9289, 0.9337

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