USD/CHF Price Analysis: Jumps from new weekly low below 0.9400 as buyers eye 0.9500 – by christianborjon USDCHF Majors Currencies Technical Analysis
tanked on Wednesday, but the story differed on Thursday. At the time of writing, the USD/CHF is trading at 0.9434 after traveling from its daily low of 0.9387.The USD/CHF daily chart depicts Thursday’s price action forming a hammer, a candlestick that appears as a reversal pattern. Nevertheless, as with most technical analysis tools, that’s just one piece of the puzzle, as it will need further confirmation from Friday.
Therefore, the USD/CHF first resistance would be the daily pivot at 0.9460, followed by the 50-EMA at 0.9484, ahead of the psychological 0.9500 mark. As an alternative scenario, the USD/CHF first support would be 0.9400, followed by the S1 pivot level at 0.9381, ahead of November’s low at 0.9356.
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