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USD/CHF Price Analysis: 0.9040/35 stays on the bears’ radar

USD/CHF Price Analysis: 0.9040/35 stays on the bears’ radar

  • USD/CHF attempts recovery from intraday low of 0.9064.
  • Pair’s sustained trading below 200-hour EMA, amid bearish MACD, favor the sellers.
  • Bulls need fresh monthly high, sellers may struggle below the 0.9000 threshold.

USD/CHF sellers catch a breather around 0.9070 during the pre-European session on Friday. The quote slumped to the intraday low before a few minutes amid bearish MACD conditions. Also suggesting the pair’s downside is repeated failure to cross 200-hour EMA.

As a result, the pair traders are again eyeing 0.9040/35 horizontal support comprising multiple levels since August 18. However, RSI conditions are likely to restrict the declines past-0.9035.

 

Should USD/CHF prices remain weak below 0.9035, 0.9010 and the 0.9000 round-figures will be the key to watch.

Alternatively, a clear break of a 200-hour EMA level of 0.9095 and 0.9100 can restrict the pair’s immediate upside.

While the bulls are less likely to get acceptance beyond 0.9100, a sustained run-up beyond the same can cheer meeting August 20 high around 0.9160 but the further upside could be capped by the monthly top close to 0.9240.

USD/CHF hourly chart

Trend: Bearish

ADDITIONAL IMPORTANT LEVELS

OVERVIEW
Today last price 0.9069
Today Daily Change -21 pips
Today Daily Change % -0.23%
Today daily open 0.909
 
TRENDS
Daily SMA20 0.911
Daily SMA50 0.9273
Daily SMA100 0.9462
Daily SMA200 0.9596
 
LEVELS
Previous Daily High 0.9124
Previous Daily Low 0.9036
Previous Weekly High 0.9162
Previous Weekly Low 0.901
Previous Monthly High 0.9494
Previous Monthly Low 0.9056
Daily Fibonacci 38.2% 0.909
Daily Fibonacci 61.8% 0.907
Daily Pivot Point S1 0.9043
Daily Pivot Point S2 0.8996
Daily Pivot Point S3 0.8956
Daily Pivot Point R1 0.9131
Daily Pivot Point R2 0.9171
Daily Pivot Point R3 0.9218

 

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