The USD/CHF pair at a rate of 0.89760 has fallen beneath important technical support levels, namely the 50 and 20-day exponential moving averages.
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- USD/CHF slides below key technical support levels: 50 and 20-day EMAs.
The pair currently trades last at 0.89760.
The previous day high was 0.909 while the previous day low was 0.9032. The daily 38.2% Fib levels comes at 0.9054, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9068, expected to provide resistance.
USD/CHF nosedives ahead of the Federal Reserve’s (Fed) decision after falling below technical support levels, trading below the 0.9000 handle after reaching a daily high of 0.9060. At the time of writing, the USD/CHF is trading at 0.8969, down 0.90%.
The USD/CHF resumed its downward biased once it slid below the 50 and 20-day Exponential Moving Averages (EMAs), each at 0.9038 and 0.9033. After that, the USD/CHF extended its losses, surpassing the 0.9000 figure and falling to fresh three-week lows of 0.8965 before aiming for 0.8970. For a bearish continuation, the USD/CHF needs to clear the May 22 swing low of 0.8940, which would expose the 0.8900 psychological price level as the next support.
Conversely, USD/CHF buyers must reclaim the 0.9000 figure if they would like to see prices higher. That would open the door toward 0.9033/38, the confluence of the 20 and 50-day EMA, ahead of testing the intersection of the 100-day EMA and April 10 daily high at 0.9114/20.
Therefore, the USD/CHF trend remains downwards, supported by oscillators. The Relative Strength Index (RSI) and the three-day Rate of Change (RoC) remained in bearish territory.
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.897 at the time of writing. Pair opened at 0.9052 and is trading with a change of -0.91 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8970 |
| 1 | Today Daily Change | -0.0082 |
| 2 | Today Daily Change % | -0.9100 |
| 3 | Today daily open | 0.9052 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9047, 50 SMA 0.8989, 100 SMA @ 0.9117 and 200 SMA @ 0.935.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.9047 |
| 1 | Daily SMA50 | 0.8989 |
| 2 | Daily SMA100 | 0.9117 |
| 3 | Daily SMA200 | 0.9350 |
The previous day high was 0.909 while the previous day low was 0.9032. The daily 38.2% Fib levels comes at 0.9054, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9068, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.9026, 0.9, 0.8968
- Pivot resistance is noted at 0.9084, 0.9116, 0.9143
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.9090 |
| Previous Daily Low | 0.9032 |
| Previous Weekly High | 0.9120 |
| Previous Weekly Low | 0.8984 |
| Previous Monthly High | 0.9148 |
| Previous Monthly Low | 0.8820 |
| Daily Fibonacci 38.2% | 0.9054 |
| Daily Fibonacci 61.8% | 0.9068 |
| Daily Pivot Point S1 | 0.9026 |
| Daily Pivot Point S2 | 0.9000 |
| Daily Pivot Point S3 | 0.8968 |
| Daily Pivot Point R1 | 0.9084 |
| Daily Pivot Point R2 | 0.9116 |
| Daily Pivot Point R3 | 0.9143 |
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