Although USD/CHF fell 1% on Friday, the pair ended the week up 0. 5%. USD/CHF remains on the edge, albeit slightly to the downside, and may test the 0.9200 mark. If USD/CHF regains 0.9300, it could pave the way to 0.9 00. , USD/CHF fell to around 0.9 08 after hitting fresh weekly highs, falling below 0.9300 on mixed US economic data, prompting US dollar (USD) selling; therefore USD/CHF collapsed. At the time of writing, USD/CHF is trading at 0.9281. USD/CHF PRICE ANALYSIS: TECHNICAL OVERVIEW From a weekly chart perspective, USD/CHF ended the week up 0. 5 percent, hitting a weekly high around 0.9 08. It must be said that the week ending January 6th was a significant upper heart on the Libra candlestick, which means sellers are gathering momentum. As the Relative Strength Index (RSI) dips into bearish territory and the Rate of Change (RoC) declines, USD/CHF may test 0.9200 soon. On the daily chart at USD/CHF, the pair is biased to the downside, although strengthening and unable to break above the 0.9200 mark. After breaking out of the bearish wedge, USD/CHF failed to gain traction and remained near 0.9250-0.9 00. Oscillators such as the Relative Strength Index (RSI) have switched gears and turned bearish, while the Rate of Change (RoC) suggests that sellers have outnumbered buyers. Therefore, the first support for USD/CHF would be the upper trend of the falling wedge, which turned to support at 0.92 0, followed by 0.9200. A break below could see USD/CHF decline to the 2022 low of 0.9091. On the other hand, the first resistance for USD/CHF would be 0.9300. After clearing, the next resistance would be the January 6 high at 0.9 08, followed by the 50-day exponential moving average (EMA) at 0.9 38.

Michael Cooper

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