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USD/CHF Significant Levels
Resistance Levels: 0.9300, 0.9400, and 0.9500
Support Levels: 0.9200, 0.9100 and 0.9000
USD/CHF Price Long-term Trend: Ranging
USD/CHF is in a sideways trend but may resume uptrend. The currency pair has been fluctuating below level 0.9300 since July. The currency price has retested the resistance zone on December 21 and 22 but was repelled. The pair has fallen and declined below the moving averages. USD/CHF will resume upward if price falls and finds support above the moving averages. Today, the pair is falling to the support above the 50-day line moving average. The market will resume upward if the 50-day line moving average holds. The selling pressure will continue if the current support is breached.
Weekly Chart Indicators:
The pair has fallen to level 50 of the Relative Strength Index for period 14. It indicates that there is a balance between supply and demand. USD/CHF price will rally on the upside if the currency price breaks above the horizontal line. and the bullish momentum is sustained above it. The 50-day line and the 21-day line moving averages are sloping horizontally indicating the downtrend.
USD/CHF Medium-term Trend: Bullish
On the 1- hour chart, the currency pair is in an upward move. It fell to the low of level 0.9188 and rebounded. The pair breaks above the 21-day line moving average but was repelled at the 50-day line moving average. The uptrend will resume if price breaks above the moving averages. Meanwhile, on December 23 uptrend, a retraced candle body tested the 23.6% Fibonacci retracement level. The retracement indicates that the currency pair will rise to level 4.236 Fibonacci extension or 0.9317.
4-hour Chart Indicators Reading
The pair is below the 20% range of the daily stochastic. The market has fallen to an oversold region. The selling pressure has reached bearish exhaustion. Buyers will emerge to push prices upward. The 21-day and 50-day SMAs are sloping horizontally indicating the sideways trend.
General Outlook for USD/CHF
USD/CHF pair is in a sideways trend but may resume uptrend. The pair has fallen to the downside and has reached bearish exhaustion. The pair has rebounded above level 0.9190. USD/CHF reached the high of level 0.9219 and pulled back.
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