#USDCHF @ 0.92155 is downward biased but subject to a mean reversion move towards 0.9300. (Pivot Orderbook analysis)

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• USD/CHF is downward biased but subject to a mean reversion move towards 0.9300.
• Solid resistance lies at 0.9235/40, with the confluence of technical indicators rejecting the USD/CHF rally.
• USD/CHF Price Analysis: Bulls are hopeful if the pair remains above 0.9158.

The pair currently trades last at 0.92155.

The previous day high was 0.9226 while the previous day low was 0.9158. The daily 38.2% Fib levels comes at 0.92, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9184, expected to provide support.

After slumping on Wednesday, the USD/CHF stages a comeback recovering the 0.9200 psychological level, eyeing a break above a confluence of technical indicators. In addition, a falling wedge continued to develop ahead of the following week’s busy economic calendar in the United States (US). At the time of typing, the USD/CHF exchanges hands at 0.9218, above its opening price by 0.22%.

Short term, the USD/CHF is upward biased, though it was rejected at the confluence of a downward slope trendline and the 20-day Exponential Moving Average (EMA) around the 0.9235/40 area. Nevertheless, bulls remain hopeful for higher prices as long as the USD/CHF stays above the January 26 daily low at 0.9158.

Therefore, the USD/CHF first resistance would be the abovementioned confluence of the 20-day EMA and a downslope trendline around 0.9240. Once cleared, the USD/CHF pair might rally toward January 24 daily high at 0.9279, followed by the January 12 ad 0.9360.

As an alternate scenario, the USD/CHF first demand zone would be the January 26 daily low of 0.9158. Once broken, then the pair might dip to the YTD low at 0.9085.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9214 at the time of writing. Pair opened at 0.9202 and is trading with a change of 0.13 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9247, 50 SMA 0.9325, 100 SMA @ 0.9573 and 200 SMA @ 0.9634.

The previous day high was 0.9226 while the previous day low was 0.9158. The daily 38.2% Fib levels comes at 0.92, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9184, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.9165, 0.9128, 0.9098
• Pivot resistance is noted at 0.9232, 0.9262, 0.9299

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