USDCHF Extends Decline Under 0.9150, US 10-Year Treasury Yields Fell

USDCHF Price Analysis – November 9

USDCHF extends its negative momentum during today’s session, dropping below its 5 and moving averages (MAs). After a brief period of price appreciation, the pair has lowered expectations for a sustained upside advance. On Tuesday, the US 10-year Treasury yield fell to new multi-week lows, part of a broader optimistic move throughout the US yield curve.

Key Levels
Resistance Levels: 0.9250, 0.9200, 0.9150
Support Levels: 0.9100, 0.9050, 0.9000
USDCHF Long term Trend: Ranging
Despite the USDCHF rise from the 0.9088 low to 0.9175 levels in Nov. 5 high, the subsequent erratic decline below 0.9150 during the near term to 0.9100 is due to general dollar weakness. The downturn has resumed, and new lows below 0.9100 are possible. The USDCHF pair may go beneath the 0.9100 into the next session.

The drop from 0.9368 is considered the third phase of the 0.9472 cycles, with no apparent indicators of completion yet. A robust breach of the 0.9150 resistance level, on the other hand, would be an early warning of a trend reversal, drawing attention to the critical 0.9200 resistance level for a test.
USDCHF Short term Trend: Bearish
The short-term momentum indicators, such as the RSI, which is hovering below 50, and the moving averages 5 and 13, which are floating above the price, support the negative outlook and recent price decline. As a result, any subsequent rise above the moving averages and the 0.9150 level will almost certainly be viewed as a buying opportunity.

The USDCHF bears may target the 0.9080 level if the market breaks below its 0.9101 support. A further decline from this level could exacerbate selling pressure, causing the price to test the 0.9050 level. Breaking over this barrier might also lead to the 0.9000 level, bolstering the pair’s negative momentum.

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