Retests December lows around 0.9210s, as traders ignore a doji – Crypto News – Crypto News
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Pullbacks from weekly highs, as a triple-top emerges in the H4 Pullbacks from weekly highs, as a triple-top emerges in the H4

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Retests December lows around 0.9210s, as traders ignore a doji – Crypto News

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3 years ago

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  • USD/CHF bypasses a doji and falls below the 0.9300 figure.
  • The USD/CHF price action suggests the pair might form a triple bottom, but oscillators point downwards.
  • A fall below 0.9200 could exacerbate a test of the 2022 lows.

The USD/CHF disregarded a doji formed on Wednesday and extended its losses below the 0.9300 figure, as the USD/CHF is about to finish the year almost unchanged. At the time of writing, the USD/CHF is trading at 0.9231, down by 0.58%.

USD/CHF Price Analysis: Technical outlook

The daily chart shows the USD/CHF hit a daily low of 0.9210 for the third time in December, though so far clung to the 0.9200 figure. However, the Relative Strength Index (RSI) and the Rate of Change (RoC) suggest that sellers are gathering momentum. So a fall below the 0.9200 figure could pave the way towards the 2022 yearly low of 0.9091.

Otherwise, the USD/CHF might be forming a triple bottom pattern, but firstly it would need to clear the 20-day Exponential Moving Average (EMA) at 0.9335 and December’s high of 0.9347 to confirm the charts patterns. Once achieved, the USD/CHF target would be the 50-day EMA at 0.9477, followed by 0.9500.

USD/CHF Key Technical Levels

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