breaking news USDCHF Sees Volatility: Key Levels to Watch in Up and Down Moves
USDCHF is testing the swing zone. Can buyers slow the fall?
THE USDCHF
USD/CHF
USD/CHF is the currency pair comprising the United States dollar (symbol $, code USD) and the Swiss franc of Switzerland (code CHF). The pair’s exchange rate indicates how many Swiss francs are needed to buy one US dollar. For example, when USD/CHF is trading at 1.2500, it means that 1 US dollar equals 1.25 Swiss francs. The US dollar (USD) is the most traded currency in the world, while the Swiss franc (CHF) is the sixth most traded currency in the world,
USD/CHF is the currency pair comprising the United States dollar (symbol $, code USD) and the Swiss franc of Switzerland (code CHF). The pair’s exchange rate indicates how many Swiss francs are needed to buy one US dollar. For example, when USD/CHF is trading at 1.2500, it means that 1 US dollar equals 1.25 Swiss francs. The US dollar (USD) is the most traded currency in the world, while the Swiss franc (CHF) is the sixth most traded currency in the world,
Read this term The pair has recently seen both an upward push and a downward rotation, eventually breaking the day’s low. Initially, the currency pair found support early in the Asian session in a swing zone between 0.9117 and 0.91264. The subsequent upward movement exceeded 100 hours moving average
Moving average
A moving average is a statistical tool used to smooth short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a number of data points over a specific period of time and then plotting that average as a line on a graph. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA). In financial markets, moving averages are often used to analyze stock prices, exchange rates, etc.
A moving average is a statistical tool used to smooth short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a number of data points over a specific period of time and then plotting that average as a line on a graph. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA). In financial markets, moving averages are often used to analyze stock prices, exchange rates, etc.
Read this term (blue line in the chart above) at 0.91691 but failed to reach the 200 hourly moving average (green line in the chart above), which stands at 0.91810. The highest price reached was 0.9177 before the pair started falling in the last few hours of trading.
The low price of the day dipped just below the swing zone at 0.9115, and the pair is currently trading at 0.9120, within the range of 0.91179 to 0.91264. The bulls are trying to hold support at these levels. However, further decline below 0.91179 is likely to trigger further bearish momentum.
Looking ahead, critical downside targets include the March 15 lows at 0.90938 and the March 13 lows at 0.90706. Additionally, the low price of the year, reached on February 2 at 0.90586 (not shown), should be taken into account when monitoring potential price movements.
On the upside March 0.91545 level is a potential resistance level. Above this, the 100 and 200 hourly moving averages come back into play. Earlier this week, the price was able to briefly cross above the 200 hourly moving average, but was unable to maintain momentum. Understand that moving averages are essential if buyers are to assume more control.
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