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16 Mar 2023

USD/CHF Price Analysis: Bulls and bears clashed around 0.9280/90 on sideways trading

  • USD/CHF hovers slightly below the 0.9300 figure and remains around the 20-day EMA.
  • USD/CHF Price Analysis: Upward biased in the near term, but downside risks remain on a break below the 20-day EMA.

USD/CHF retreats from weekly highs of 0.9340 and meanders between two daily Exponential Moving Averages (EMAs), at around 0.9290s. An improvement in market sentiment, and a soft US Dollar (USD), triggered flows toward the Swiss Franc (CHF), which recovered some ground.

USD/CHF Price action

Following Wednesday’s price action that saw the USD/CHF pair gaining 2%, Thursday’s session turned red. Nevertheless, the USD/CHF stayed nearby the 20/50-day EMAs, each at 0.9288 and 0.9297, respectively. If the USD/CHF cracks the top of the range, that will poise the pair towards 0.9300 and beyond. Once the figure is conquered, the USD/CHF will test the 100-day EMA at 0.9366, followed by the 0.9400 mark. A rally above will lift the USD/CHF toward the 200-day EMA at 0.9435.

In an alternate scenario, the USD/CHF first support will be the 20-day EMA At 0.9288. a breach of the latter and the USD/CHF will dive towards March 16 low at 0.9229 before stumbling to 0.9200.

USD/CHF Daily chart

USD/CHF Technical levels

 

Mar 16, 2023

GBP/USD Price Analysis: Bears prowl and eye a break below of 1.2050 again

GBP/USD is meeting resistance near 1.2100 while traders assess the risks associated with the banking system crisis and weigh the prospects of a hawkis
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Mar 17, 2023

USD/CAD declines towards 1.3700 as uncertainty for Fed monetary policy deepens

The USD/CAD pair is displaying a back-and-forth action around 1.3720 in the early Asian session. The Loonie asset has turned sideways after a downside
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