USD/CHF Price Analysis: Hits lowest since May 2015
- USD/CHF slips to multi-year lows below 0.9120 on broad-based dollar sell-off.
- Technical indicators like the RSI suggest extreme oversold conditions.
The USD/CHF pair fell to 0.9116 during Thursday's Asian trading hours to hit the lowest level since May 2015.
The pair has dropped by over 3.6% this month and is down over 5.6% on a year-to-date basis. With the Federal Reserve reiterating dovish bias on Wednesday, the doors remain open for a further decline in USD/CHF.
However, we may see a minor corrective bounce as the 14-day relative strength index is reporting extreme oversold conditions. In addition, the 4-hour chart RSI is signaling a bullish divergence.
As such, the pair may revisit the descending 50-hour simple moving average (SMA), currently at 0.9170. At press time., USD/CHF is trading at 0.9124.
Trend: Bearish but oversold
|Today last price||0.913|
|Today Daily Change||0.0004|
|Today Daily Change %||0.04|
|Today daily open||0.9126|
|Previous Daily High||0.9188|
|Previous Daily Low||0.9117|
|Previous Weekly High||0.941|
|Previous Weekly Low||0.9204|
|Previous Monthly High||0.9651|
|Previous Monthly Low||0.9376|
|Daily Fibonacci 38.2%||0.9144|
|Daily Fibonacci 61.8%||0.9161|
|Daily Pivot Point S1||0.9099|
|Daily Pivot Point S2||0.9073|
|Daily Pivot Point S3||0.9029|
|Daily Pivot Point R1||0.917|
|Daily Pivot Point R2||0.9214|
|Daily Pivot Point R3||0.9241|
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