The USD/CHF pair, currently at a rate of 0.88380, has dropped to 0.8838, experiencing a 0.06% decline. This shift occurred as US Treasury yields decreased after Powell’s comments that indicated a more aggressive stance, resulting in sellers taking control of the situation.
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- USD/CHF retreats to 0.8838, down 0.06%, as US Treasury yields dip following Powell’s hawkish remarks, putting sellers in the driver’s seat.
The pair currently trades last at 0.88380.
The previous day high was 0.8852 while the previous day low was 0.876. The daily 38.2% Fib levels comes at 0.8817, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8795, expected to provide support.
USD/CHF retraces from a six-week high of 0.8876, drops as sellers outpaced buyers, as US Treasury bond yields dropped after the US Federal Reserve Chair Jerome Powell speech. At the time of writing, the USD/CHF is trading at 0.8838, down 0.06%.
From a technical standpoint, the USD/CHF clashed with a five-month-old downslope resistance trendline, reaching a new six-week high, but has retraced, trimming its earlier gains and turning negative, so far in the day, about to form a ‘gravestone-doji’ which would suggest further downside expected.
For buyers to resume their uptrend, the pair must reclaim 0.8900. A breach of the latter will expose the fourth-month-old previous support turned resistance trendline above the 0.9000 figure, followed by the 200-day Moving Average (DMA) at 0.9082. Conversely, the USD/CHF first support emerges at a May 4 daily low of 0.8819. Break below will send the pair towards 0.8800, followed by the current week’s low of 0.8759.
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.884 at the time of writing. Pair opened at 0.8844 and is trading with a change of -0.05 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8840 |
| 1 | Today Daily Change | -0.0004 |
| 2 | Today Daily Change % | -0.0500 |
| 3 | Today daily open | 0.8844 |
The pair is trading above its 20 Daily moving average @ 0.877, above its 50 Daily moving average @ 0.8799 , below its 100 Daily moving average @ 0.8892 and below its 200 Daily moving average @ 0.9087
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8770 |
| 1 | Daily SMA50 | 0.8799 |
| 2 | Daily SMA100 | 0.8892 |
| 3 | Daily SMA200 | 0.9087 |
The previous day high was 0.8852 while the previous day low was 0.876. The daily 38.2% Fib levels comes at 0.8817, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8795, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.8786, 0.8727, 0.8694
- Pivot resistance is noted at 0.8877, 0.891, 0.8969
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8852 |
| Previous Daily Low | 0.8760 |
| Previous Weekly High | 0.8828 |
| Previous Weekly Low | 0.8738 |
| Previous Monthly High | 0.9005 |
| Previous Monthly Low | 0.8552 |
| Daily Fibonacci 38.2% | 0.8817 |
| Daily Fibonacci 61.8% | 0.8795 |
| Daily Pivot Point S1 | 0.8786 |
| Daily Pivot Point S2 | 0.8727 |
| Daily Pivot Point S3 | 0.8694 |
| Daily Pivot Point R1 | 0.8877 |
| Daily Pivot Point R2 | 0.8910 |
| Daily Pivot Point R3 | 0.8969 |
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