USD/CHF Price Analysis: Seesaws around the 20-day EMA, stays above 0.8700

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  • USD/CHF printed a ‘bearish-harami’ candlestick pattern but failed to extend its losses past the last week’s low.
  • Monday’s ‘gravestone-doji’ indicates traders’ uncertainty regarding a further downward move.
  • USD/CHF key support emerges at 0.8699, while the first resistance lies at 0.8731.

USD/CHF held to minimal gains of 0.03% on Monday, seesaws above/below the 20-day Exponential Moving Average (EMA) of 0.8731 as the Asian session begins. Nevertheless, the USD/CHF remains in a downtrend, and exchanges hands at 0.8726, down 0.01%.

USD/CHF Price Analysis: Technical outlook

After forming a ‘bearish-harami’ candlestick chart pattern, the USD/CHF resumed its downtrend last Thursday, but Monday’s price action forming a ‘gravestone-doji’ portrays traders’ indecision about extending its losses toward last week’s low of 0.8699.

If USD/CHF drops below the latter, the pair might extend its losses toward the year-to-date (YTD) low of 0.8554, threatening to extend its plunge toward the 0.8500 figure. Conversely, if USD/CHF buyers reclaim the 20-day EMA, that could pave the way for further upside.

First resistance would emerge at the 0.8800 figure. Once buyers conquer that level, up next would be the May 4 low-turned resistance at 0.8819, followed by the 0.8900 mark.

USD/CHF Price Action – Daily chart

USD/CHF

Overview
Today last price 0.8726
Today Daily Change -0.0001
Today Daily Change % -0.01
Today daily open 0.8727
 
Trends
Daily SMA20 0.8684
Daily SMA50 0.8873
Daily SMA100 0.8944
Daily SMA200 0.9155
 
Levels
Previous Daily High 0.8783
Previous Daily Low 0.87
Previous Weekly High 0.8806
Previous Weekly Low 0.8665
Previous Monthly High 0.9005
Previous Monthly Low 0.8552
Daily Fibonacci 38.2% 0.8731
Daily Fibonacci 61.8% 0.8751
Daily Pivot Point S1 0.869
Daily Pivot Point S2 0.8653
Daily Pivot Point S3 0.8607
Daily Pivot Point R1 0.8773
Daily Pivot Point R2 0.8819
Daily Pivot Point R3 0.8856

 

 

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