USDCHF Reverses From Highs Near 0.9332 As the Swiss Franc Gains

USDCHF Price Analysis – September 21

In the early European trading hours on Tuesday, the USDCHF pair is trading down. The pair dropped on a corrective pullback after touching monthly highs above 0.9300. It is currently trading at 0.9248, down 0.32 percent on the day. On the other note, despite a drop in risk appetite, the Swiss Franc maintains some of its safe-haven appeals.

Key Levels
Resistance Levels: 0.9472, 0.9375, 0.9275
Support Levels: 0.9200, 0.9150, 0.9100
USDCHF Long term Trend: Ranging
USDCHF remains at the recent low of 0.9248, according to technical analysis of the daily chart, with the next bottom at 0.9221. Although the pair may find some support near 0.9200 and appeared to have stopped its recent decline from 0.9332. As a result, any subsequent rise to the 0.9275 level will almost certainly be viewed as a buying opportunity.

A sustained breach of the 0.9200 support level, on the other hand, would signal a trend change and draw attention back to the important 0.9150 support level, which would be tested. A breakout of the 0.9275 immediate resistance level, on the other hand, should be the first indicator of a bullish turnaround. In the absence of a new rally, the trend may turn bearish.
USDCHF Short term Trend: Ranging
On a retest of the 0.9200 low, the USDCHF intraday bias remains moderately negative. A decisive break could signal the start of a bigger decline. Going above the minor resistance level of 0.9275, on the other hand, may initially revert the rising trend into the resistance zone 0.9300/9332.

The attention is on the 0.9200 level, which represents the key support. This protects the 0.9150 support, and a dive below 0.9200 is needed to make room for more lows. The prolonged advance could prompt short-term coverage in the near term, allowing USDCHF to rebound to 0.9300.

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