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1 Feb 2023

USD/CHF Price Analysis: Seesaws around 0.9250 in a choppy trading session

  • The USD/CHF is trapped within a 140 pip area, trendless and fluctuating around the 20-day EMA.
  • USD/CHF Price Analysis: The pair is neutral downwards, and it could test the YTD low during the session.

The USD/CHF remains subdued in Wednesday’s North American session, with markets awaiting the Federal Reserve’s (Fed) decision regarding its monetary policy. At the time of typing, the USD/CHF exchanges hands at around 0.9150s, almost flat.

USD/CHF Price Analysis: Technical outlook

The pair remains consolidated in the 0.9140 to 0.9280 area for the tenth consecutive day, though the USD/CHF fell and hit a new weekly lof of 0.9136 before recovering some ground, resting at around the 0.9150 area. Nevertheless, the USD/CHF bears remain in charge, as the daily EMAs sits above the spot price, while oscillators like the Relative Strength Index (RSI) and the Rate of Change (RoC) suggest the neutral-downward bias remains intact.

The USD/CHF support areas would be the day’s low at 0.9136, followed by the 0.9100 figure. Once broken it will exacerbate a USD/CHF fall to the YTD low of 0.9085, followed by the 0.9000 psychological figure.

On the other hand, if the USD/CHF reclaims 0.9200, then the 20-day EMA would be up for grabs at 0.9220. Once done, the USD/CHF could aim towards the January 31 daily high at 0.9288, on its way to the 0.9300 psychological barrier.

USD/CHF Key Technical Levels

 

Feb 1, 2023

Silver Price Analysis: XAG/USD slumps below $23.50 ahead of the FOMC's decision

Silver price struggles at the 20-day Exponential Moving Average (EMA) at $23.66 and is dropping toward the lows of the day, at around $23.40s, as inve
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Feb 1, 2023

USD/CAD Price Analysis: Bears ready to pounce depending on the Fed

As per the prior analysis, USD/CAD Price Analysis: Bears seek a break of key support while on the front side of bear trend, bulls have moved in to tes
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