- The USD/CHF pair is trading close to its intraday lows on Monday, following a significant decrease in value.
- Prevailing negative indicators are evident, with key moving averages contributing to the downward trend.
- Key technical thresholds suggest a support level in the vicinity of 0.8210 and a resistance level around 0.8315.
The USD/CHF pair traded near its daily low point during Monday’s trading, fluctuating around the 0.82 mark after a decline of almost 0.5%. The pair’s overall market sentiment remains bearish, a view supported by the behavior of various technical indicators. Although the Relative Strength Index (RSI) shows a neutral reading near 38, and the Moving Average Convergence Divergence (MACD) offers a slight indication to buy, the broader signals derived from Simple Moving Averages (SMAs) and Exponential Moving Averages (EMAs) still strongly favor selling.
The bearish sentiment is further underscored by the 20-day SMA, which is positioned around 0.8358. Additionally, the 100-day and 200-day SMAs, located considerably above the current trading price at 0.8854 and 0.8750 respectively, also point to a continued potential for price declines. The short-term EMAs, with the 10-day EMA at about 0.8259 and the 30-day EMA near 0.8452, reinforce the negative perspective.
Concurrently, other momentum indicators, such as the Williams Percent Range (14) around -64 and the Stochastic RSI Fast, which is above 90, are providing more mixed signals. These suggest that while the downward pressure is significant, short-term price swings may still occur.
