USD/CHF Price Analysis: Teeters on the edge at around the 200-DMA
- USD/CHF bounces near 0.9001, with the 200-DMA at 0.9022 emerging as a pivotal battleground.
- A sustained move below the 200-DMA could unlock the path towards the psychological 0.9000.
- Recovery above 0.9022 necessitates reclaiming 0.9100 to rekindle upside aspirations towards 0.9147.
The USD/CHF slides towards 0.9001 weekly lows but bounces off, trying to trim some of its earlier losses. Buyers are trying to reclaim the 200-day moving average (DMA) at 0.9022, which so far has been accomplished it, as the pair exchanges hands at 0.9030, down 0.14%.
the ongoing pullback, after reaching a seven-month high of 0.9245, brought the USD/CHF towards the 200-DMA, which so far is capping the pair’s fall. Nevertheless, a daily close below that area would expose the 0.9000 figure, followed by a drop toward the 50-DMA at 0.8926. On the other hand, if buyers keep the spot price above 0.9022, the 200-DMA could pave the way for a recovery, but they must reclaim 0.9100. Once cleared, the next resistance would be the May 31 daily high at 0.9147, followed by 0.9200.
USD/CHF Price Action – Daily chart
USD/CHF Techniacl Levels
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