USD/CHF Price Analysis: Retreats from 0.9370s to 0.9320s despite firm US dollar By christianborjon USDCHF Majors Technical Analysis
t mood and higher US Treasury yields. The USD/CHF is trading at 0.9327 at press time during the North American session., a gauge of the greenback’s value against a basket of its rivals, advances some 0.01%, sits at 98.474 but fails to underpin the USD/CHF. At the same time, US Treasury yields are soaring, led by 5s and 10s, each one at 2.397% and 2.381%, respectively.
Overnight, the USD/CHF began in the Asian session on a higher note, pushing through November 24, 2021, high at 0.9373, but USD bulls failed to hold their reins, as the pair dropped sharply, breaking on its way the 100, 200 and the 50-hour simple moving averages on its way south, to stabilize near the 0.9320 mark.perspective, the USD/CHF is upward biased. However, USD bulls faltering to keep the exchange rate above 0.9343 exposed the pair to the 0.9297-0.9343 range.
It is worth noting that an inverted head-and-shoulders pattern could be forming, but the USD/CHF would need to break upwards to confirm the right-shoulder formation. That said, the USD/CHF first resistance would be 0.9357. A decisive break would expose the inverted head-and-shoulders neckline near November 24, 2021, cycle high at 0.9373, followed by the 0.9400 mark.
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