Detailed FX Market Outlook and Analysis

USD/CHF Daily Analysis 09-June-2023

daily analysis

USD/CHF Update and Intraday Analysis

The USD/CHF pair’s Daily Analysis suggests a new development: the breaking of the 0.9017 support indicates that the corrective recovery from 0.8822 has reached its climax at 0.9150. The intraday bias is now shifting back to the downside, implying a possible decline to 0.8822 and potentially lower. However, a sturdy support of around 0.8760 – a long-term support level – is necessary to trigger another rebound. For the time being, as long as the 0.9150 resistance holds, any risk appears to lean more toward the downside in the event of a recovery.

Broadening the scope in the Daily Update, the decline from 1.1050 (the 2022 high) is perceived as part of the long-term range pattern, originating from 1.0346. This pattern could have already ended at 0.8822, slightly above the long-term support at 0.8760. A continued trade above 0.9062, which is currently a support-turned-resistance, would verify medium-term bottoming. A further break of the 0.9443 resistance would confirm a bullish trend reversal.

USD/CHF Daily Analysis Summary

In summary, the trajectory of the USD/CHF pair is largely dictated by key resistance and support levels, which continue to play pivotal roles in determining its direction.

  • The corrective recovery appears to have reached its zenith at 0.9150, with a potential decline to 0.8822 and possibly lower
  • Sturdy support at 0.8760 is necessary to induce another rebound, with the risk leaning more toward the downside as long as the 0.9150 resistance holds
  • The fall from 1.1050 could be part of a long-term range pattern that has possibly ended at 0.8822, just above the 0.8760 long-term support


Latest Analysis