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24 Dec 2021

USD/CHF Price Analysis: Renews three-week low under 0.9200 on breaking 200-DMA

  • USD/CHF remains pressured around multi-day low during three-day downtrend.
  • Bearish MACD signals, 0.9215 key support break favors sellers.
  • Bulls need validation from 0.9255, bears eye four-month-old ascending trend line.

USD/CHF stays depressed around a three-week low, down 0.08% on a day near 0.9170 during early Friday.

The Swiss currency (CHF) pair’s latest loss could be linked to the clear downside break of the 200-DMA. Also adding to the bearish bias are the downbeat MACD signals and sustained trading below 0.9215 support-turned-resistance confluence including 100-DMA and an upward sloping trend line from November 01.

That said, the USD/CHF bears are on the way to a four-month-old support line, near 0.9130. Though, any further weakness will be challenged by the 0.9100 threshold and November’s low of 0.9088.

Meanwhile, corrective pullback remains elusive below the 200-DMA level of 0.9178, a break of which will recall the 0.9200 round figure on the chart.

It’s worth noting that USD/CHF sellers keep the reins until witnessing a clear upside break of the 0.9215 resistance confluence stated above.

Even so, multiple levels marked since late October offer additional filters to the north around 0.9255.

USD/CHF: Daily chart

Trend: Further weakness expected

 

Dec 24, 2021

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