#USDCHF @ 0.89680 faces resistance at 0.9000 and falls for the first time in three days. (Pivot Orderbook analysis)

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• USD/CHF faces resistance at 0.9000 and falls for the first time in three days.
• USD/CHF Price Analysis: It might print a leg-up above 0.9000; otherwise, a bearish continuation would resume below 0.8900.

The pair currently trades last at 0.89680.

The previous day high was 0.8996 while the previous day low was 0.8922. The daily 38.2% Fib levels comes at 0.8968, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.895, expected to provide support.

USD/CHF retreats after posting back-to-back days of gains, down 0.17%, after hitting a weekly high of 0.8996. At the time of writing, the USD/CHF exchanges hands at 0.8969, ahead of the Wall Street close.

From a technical perspective, the USD/CHF daily chart portrays the major as downward biased, losing almost 3% annually. However, last Friday, the USD/CHF pair snapped three days of straight losses, forming a bullish piercing pattern that failed to extend above the psychological 0.9000 figure. Even though the USD/CHF is in a pullback, the Rate of Change (RoC) suggests that buyers are outpacing sellers, which could put into play a challenge of the 0.9000 figure.

If USD/CHF cracks the latter, that will expose the 20-day Exponential Moving Average (EMA) at 0.9065, followed by the 0.9100 mark. Once cleared, the USD/CHF could rally towards the 50-day EMA at 0.9164.

Conversely, a bearish continuation will resume once the USD/CHF breaks below 0.8921. A breach of the latter will expose the 0.8900 figure, followed by the YTD low at 0.8859.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.8972 at the time of writing. Pair opened at 0.8986 and is trading with a change of -0.16 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9092, 50 SMA 0.9211, 100 SMA @ 0.9247 and 200 SMA @ 0.9484.

The previous day high was 0.8996 while the previous day low was 0.8922. The daily 38.2% Fib levels comes at 0.8968, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.895, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.894, 0.8894, 0.8865
• Pivot resistance is noted at 0.9014, 0.9042, 0.9088

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