USD/JPY stalls at 0.9400 but the major support is much lower down
- USD/CHF is trading 0.12% lower on the session but could have found some support.
- There is another support level lower down on the weekly chart to keep an eye on.
USD/CHF weekly chart
USD/CHF is coming up to some key levels. On the weekly chart below, although the price has printed through 0.9430 it seems it could just be a spike. Below there this is another level where the pair has had some more extreme reactions at 0.9187.
On this timeframe, the technical indicators are showing signs of bearishness. The MACD has just printed a red histogram this could be the beginning of a histogram wave lower. The Relative Strength Index indicator is also pointing to lower levels and has dipped under the 50 line.
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USD/CHF daily chart
On the daily chart, the price has not yet reached the 76.4% Fibonacci level. This could be an area where the downside move could stall. On this timeframe, the red support line is slightly clearer. It would be interesting to see if the price can close above the zone as it could indicate the price might retrace to the upside.
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