USD/CHF Price Analysis: Hits lowest since May 2015
- USD/CHF slips to multi-year lows below 0.9120 on broad-based dollar sell-off.
- Technical indicators like the RSI suggest extreme oversold conditions.
The USD/CHF pair fell to 0.9116 during Thursday's Asian trading hours to hit the lowest level since May 2015.
The pair has dropped by over 3.6% this month and is down over 5.6% on a year-to-date basis. With the Federal Reserve reiterating dovish bias on Wednesday, the doors remain open for a further decline in USD/CHF.
However, we may see a minor corrective bounce as the 14-day relative strength index is reporting extreme oversold conditions. In addition, the 4-hour chart RSI is signaling a bullish divergence.
As such, the pair may revisit the descending 50-hour simple moving average (SMA), currently at 0.9170. At press time., USD/CHF is trading at 0.9124.
Daily chart
Trend: Bearish but oversold
Technical levels
USD/CHF
| OVERVIEW | |
|---|---|
| Today last price | 0.913 |
| Today Daily Change | 0.0004 |
| Today Daily Change % | 0.04 |
| Today daily open | 0.9126 |
| TRENDS | |
|---|---|
| Daily SMA20 | 0.9351 |
| Daily SMA50 | 0.9472 |
| Daily SMA100 | 0.9581 |
| Daily SMA200 | 0.9681 |
| LEVELS | |
|---|---|
| Previous Daily High | 0.9188 |
| Previous Daily Low | 0.9117 |
| Previous Weekly High | 0.941 |
| Previous Weekly Low | 0.9204 |
| Previous Monthly High | 0.9651 |
| Previous Monthly Low | 0.9376 |
| Daily Fibonacci 38.2% | 0.9144 |
| Daily Fibonacci 61.8% | 0.9161 |
| Daily Pivot Point S1 | 0.9099 |
| Daily Pivot Point S2 | 0.9073 |
| Daily Pivot Point S3 | 0.9029 |
| Daily Pivot Point R1 | 0.917 |
| Daily Pivot Point R2 | 0.9214 |
| Daily Pivot Point R3 | 0.9241 |
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