Price Analysis of USD/CHF: When bears entered the 100-DMA, the market crashes below the 20/50 DMAs.

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After encountering resistance at the 200-day EMA, USD/CHF’s decline continued past the 20/50-day EMAs. 

Price Forecast for USD/CHF: Changed to bearish, but to test the year-to-date lows, it needs to break the 0.9130s.

USD/CHF extends its daily losses to more than 1% on Friday as it falls below the convergence of the 20- and 50-day Exponential Moving Averages (EMAs). The USD was affected by a mixed US jobs report. A collapse of a US bank deteriorates public opinion, which has the potential to spread throughout the nation. The USD/CHF rate is 0.9216 as of this writing.

Price Changes for USD/CHF

The USD/CHF moved lower after falling below the intersection of the 20 and 50-day EMAs. The pair dropped to around 0.9174 during the day, a multi-week low, before buyers intervened and raised the price above 0.9200.

The USD/CHF path of least resistance is down, as the Rate of Change (RoC) indicates that sellers are gaining momentum and the Relative Strength Index (RSI) has turned bearish.

All things considered, the USD/CHF pair’s most memorable help would be the 0.9200 figure. After breaking, the pair would test the swing low of 0.9140 on February 14 and the low of 0.9174 on March 10. The 0.9100 level, which is followed by the YTD low of 0.9059, will become visible if the latter is broken.

If the USD/CHF reclaims 0.9300 in a different scenario, that would keep the bulls hopeful for testing 0.9400. However, buyers must overcome the 0.9311 and 0.9319 50-day EMAs.


About the author

Nafees Saifi // entrepreneur, author, trainer, and stocks and FX trader. 
Nafees Saifi is a professional FX trader from, India. Nafees has extensive experience trading commodities, bonds, and equity futures in the Asian, European, and US markets. Nafees holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.


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