USD/CHF started dipping from 0.913, yet the prices stayed above the 100-period SMA. The market outlook is bullish, above 38.2% Fibonacci. The bullish trend can potentially resume if USD/CHF stabilizes above 0.904, targeting 0.913.
USDCHF Technical Analysis – 7-January-2025
FxNews—The U.S. Dollar has been in a bull market, above the 100-period simple moving average. However, the currency pair has lost 1.1% of its value since January 2. As of this writing, USD/CHF trades at approximately 0.903, stabilizing below the 23.6% Fibonacci level.
Regarding the technical indicators:
- The RSI 14 depicts 42 in the description and is declining, meaning the bear market strengthened.
- The Stochastic Oscillator shows 27 in the description, indicating that the market is not oversold and that the downtrend can potentially resume.
- The Awesome Oscillator histogram is red, below zero, interpreted as the bear market should prevail.
Overall, the technical indicators suggest that while the primary trend is bullish, AUD/USD has the potential to fall toward lower support levels.
Momentum Shifts in USDCHF From 0.913
The immediate resistance is at 0.906. From a technical perspective, the uptrend will likely resume if bulls (buyers) push USD/CHF above 0.906. If this scenario unfolds, the next bullish target could be revisiting the 0.913 resistance.
Please note that the bullish outlook should be invalidated if USD/CHF falls below the 38.2% Fibonacci support level at 0.898.
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The Bearish Scenario
The immediate support is at 0.898. From a technical perspective, the bearish wave from 0.913 could resume if the value of USD/CHF falls below 0.898. In this scenario, the next bearish target could be the %50.0 Fibonacci support area at 0.893.
USDCHF Support and Resistance Levels – 7-January-2025
Traders and investors should closely monitor the below USD/CHF key levels to make informed decisions and adjust their strategies accordingly as market conditions shift.
| USDCHF Support and Resistance Levels – 7-January-2025 | |||
|---|---|---|---|
| Support | 0.898 | 0.893 | 0.888 |
| Resistance | 0.904 | 0.913 | 0.923 |
