USDCHF Falls Below Critical Support, Dollar’s Slide Accelerates

Updated:

USDCHF Price Analysis – October 19

On Tuesday, the US dollar fell slightly against the Swiss franc. The pair fell lower to settle below 0.9200 after touching the high at 0.9242 in the US session. The USDCHF currency pair is currently trading at 0.9225, down 0.15 percent on the day. As traders’ decisions are influenced by Fed tapering and increased inflationary concerns, higher US Treasury yields underpin the appetite for the US dollar.

Key Levels
Resistance Levels: 0.9472, 0.9375, 0.9275
Support Levels: 0.9175, 0.9100, 0.9018
USDCHF Long term Trend: Ranging
Daily, the USDCHF has prolonged its weakness below moving averages 5 and 13, indicating that sellers are likely to hold the reins tight and target a retracement level of 0.9230 during the current falls.

The 0.9175 region is the immediate support, and a break below that level would expose the 0.9150 level, which is a multi-month support zone low. On the upside, the immediate resistance is currently at 0.9250, followed by 0.9275 and 0.9300.
USDCHF Short term Trend: Ranging
USDCHF is range-bound at 0.9175/9275, with an intraday tendency to the negative. An additional drop is still possible with a resistance level of 0.9250 intact. The breach of the 0.9175 level, on the other hand, might trigger a further downward fall.

Even so, given the bullish convergence situation in the 4 hour RSI, a breach of the 0.9175 level might confirm short-term bottoming and shift the bias back to the upward, allowing for a rebound to the horizontal resistance line (now at 0.9250 level).

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.