USD/CHF Price Analysis: Struggles at 0.8800 amid mixed technical signals

• USD/CHF climbs by 0.20%, trading at 0.8780, but remains under the shadow of the 0.8800 resistance.

• The pair displays a ‘double-top’ chart pattern, suggesting potential downside movement.

• Key resistances to watch: 50-day EMA at 0.8811 and 100-day EMA at 0.8921.

• Immediate supports lie at the 20-day EMA at 0.8746 and the August 10 low of 0.8689.

On Monday's trading session, the value of USD/CHF experienced a slight increase. However, it was unable to maintain a mark above the 0.8800 figure, this could negatively impact the pair in the near future. Furthermore, the inability of the USD/CHF to surpass a descending resistance trendline, based on the highs from November 2022, has potentially left the path open for further declines. Currently, the USD/CHF is at 0.8780 and has gone up by 0.20%, though it still remains vulnerable to selling pressure.

USD/CHF Price Analysis: Technical outlook

From a technical standpoint, the USD/CHF registered a ‘double-top’ chart pattern, which could pave the way for further downside, but mixed signals from an oscillator perspective could refrain sellers from lowering prices.

The Relative Strength Index (RSI) indicates that buyers are gathering momentum, while the three-day Rate of Change (RoC) depicts the USD/CHF as neutral.

If USD/CHF buyers reclaim 0.8800, they must reclaim the 50-day Exponential Moving Average (EMA) at 0.8811. A breach of the latter would expose the 100-day EMA at 0.8921.

Conversely, if USD/CHF sellers remain in control, the next support would be the 20-day EMA at 0.8746. Break below will expose the August 10 low of 0.8689, followed by the year-to-date (YTD) low of 0.8551.

USD/CHF Price Action – Daily chart