The USD/CHF extended its losses towards the 50-day moving average (DMA) at 0.8957, though bounced off at that level, and finished Wednesday’s session
USD/CHF bounces off the 50-DMA support at 0.8957, currently trading near 0.8987. The 200-DMA at 0.9014 is a significant resistance, capping the pair's upside. Slowing inflation in Switzerland initially boosted the pair towards 0.9200. A recent decline in US bond yields, combined with a double-top pattern, has pressured the pair downwards. at around 0.8987, capped on the upside by the 200-DMA. As Thursday’s Asian session begins, the major exchanges hands at 0.8987, almost flat.
A break below the 50-DMA would expose the 0.8900 figure, followed by a September 11 swing low test of 0.8893. On the other hand, if USD/CHF reclaims the 200-DMA, the pair could rally and test the latest cycle high of 0.9088 before launching an attack toward the month-to-date high of 0.9245. USD/CHF Price Action – Daily chart USD/CHF Technical Levels USD/CHF Overview Today last price 0.8987 Today Daily Change -0.0015 Today Daily Change % -0.17 Today daily open 0.9002 Trends Daily SMA20 0.
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