FXOpen Trader
Well-known member
USDCHF Technical Analysis – 22nd JAN, 2026
USDCHF – On the daily chart, the short term structure remained supportive
USD/CHF Technical Analysis – 22nd January 2026
On 22nd January 2026, USD/CHF advanced to a high of 0.7968, a level that underscored the strength of its short term rebound but simultaneously highlighted the presence of firm supply near the 0.7970 psychological barrier. The candle structure was moderately extended with a pronounced upper wick, reflecting how buyers initially drove momentum but were met with resistance as sellers re entered to cap the advance. This rejection suggested that while the pair retained upward momentum, enthusiasm was beginning to fade as the market approached overhead resistance.
On the daily chart, the short term structure remained supportive, with the 20 day moving average positioned around 0.7930, cushioning the advance. The 50 day average, sloping downward from 0.8050, reinforced medium term weakness despite the rebound attempt. The 200 day average at 0.8185 confirmed that the longer term framework remained bearish, with the broader trend still favouring sellers. Momentum indicators hinted at caution: RSI readings hovered near 61, edging into overbought territory, while MACD values were marginally positive but beginning to flatten, suggesting that upside strength was losing intensity.
Intraday dynamics on the four hour chart revealed stretched conditions. Stochastic oscillators climbed into the upper 70s, flashing overbought signals. Price stalled as sellers defended the 0.7965–0.7970 band, while immediate support was layered at 0.7930 and 0.7895. Volatility compressed into a narrowing corridor, often a precursor to breakout attempts, but the balance of flows suggested hesitation rather than conviction.
The weekly perspective provided broader context. Since the August 2025 peak near 0.8520, USD/CHF has carved a descending sequence of lower highs and lower lows, underscoring the resilience of the bearish framework. Average True Range readings around 0.0060 reflected controlled but directional swings. Fibonacci retracement mapping from the August 2025 high at 0.8520 to the December low at 0.7860 highlighted key checkpoints: 38.2% at 0.8110, 50% at 0.8190, and 61.8% at 0.8270. The 0.7968 high sat well below these retracement markers, reinforcing its role as minor resistance within a broader downtrend.
Sentiment at this juncture was shaped by the tension between short term rebound attempts and longer term bearish conviction. Institutional flows appeared to fade near minor resistance, while retail positioning remained cautious given the proximity to stretched oscillator readings. The ability of the pair to sustain above 0.7930 was critical, as holding this level would preserve the corrective narrative and invite renewed buying interest.
Looking forward, continuation of the rally requires a clean break above 0.7970, which would open the path toward 0.8050 and eventually 0.8110, aligning with Fibonacci retracement checkpoints. Conversely, a slip back below 0.7930 would expose the pair to corrective pressure toward 0.7895 and 0.7860, levels that coincide with prior swing lows and medium term support. Until a decisive breakout occurs, range bound trading between 0.7930 and 0.7970 is likely to dominate, offering tactical opportunities for short term traders while the broader downtrend remains intact.
In summary, USD/CHF’s climb to 0.7968 on 22nd January 2026 was not a clean breakout but rather a reaffirmation of overhead resistance. The interplay of moving averages, Fibonacci retracement, and momentum signals pointed to a market pausing at a critical juncture, with sellers defending supply and buyers awaiting confirmation for the next directional move.
#fxopen #forex #forexanalysis
Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.
For in-depth analysis, please check ...
USDCHF – On the daily chart, the short term structure remained supportive
USD/CHF Technical Analysis – 22nd January 2026
On 22nd January 2026, USD/CHF advanced to a high of 0.7968, a level that underscored the strength of its short term rebound but simultaneously highlighted the presence of firm supply near the 0.7970 psychological barrier. The candle structure was moderately extended with a pronounced upper wick, reflecting how buyers initially drove momentum but were met with resistance as sellers re entered to cap the advance. This rejection suggested that while the pair retained upward momentum, enthusiasm was beginning to fade as the market approached overhead resistance.
On the daily chart, the short term structure remained supportive, with the 20 day moving average positioned around 0.7930, cushioning the advance. The 50 day average, sloping downward from 0.8050, reinforced medium term weakness despite the rebound attempt. The 200 day average at 0.8185 confirmed that the longer term framework remained bearish, with the broader trend still favouring sellers. Momentum indicators hinted at caution: RSI readings hovered near 61, edging into overbought territory, while MACD values were marginally positive but beginning to flatten, suggesting that upside strength was losing intensity.
Intraday dynamics on the four hour chart revealed stretched conditions. Stochastic oscillators climbed into the upper 70s, flashing overbought signals. Price stalled as sellers defended the 0.7965–0.7970 band, while immediate support was layered at 0.7930 and 0.7895. Volatility compressed into a narrowing corridor, often a precursor to breakout attempts, but the balance of flows suggested hesitation rather than conviction.
The weekly perspective provided broader context. Since the August 2025 peak near 0.8520, USD/CHF has carved a descending sequence of lower highs and lower lows, underscoring the resilience of the bearish framework. Average True Range readings around 0.0060 reflected controlled but directional swings. Fibonacci retracement mapping from the August 2025 high at 0.8520 to the December low at 0.7860 highlighted key checkpoints: 38.2% at 0.8110, 50% at 0.8190, and 61.8% at 0.8270. The 0.7968 high sat well below these retracement markers, reinforcing its role as minor resistance within a broader downtrend.
Sentiment at this juncture was shaped by the tension between short term rebound attempts and longer term bearish conviction. Institutional flows appeared to fade near minor resistance, while retail positioning remained cautious given the proximity to stretched oscillator readings. The ability of the pair to sustain above 0.7930 was critical, as holding this level would preserve the corrective narrative and invite renewed buying interest.
Looking forward, continuation of the rally requires a clean break above 0.7970, which would open the path toward 0.8050 and eventually 0.8110, aligning with Fibonacci retracement checkpoints. Conversely, a slip back below 0.7930 would expose the pair to corrective pressure toward 0.7895 and 0.7860, levels that coincide with prior swing lows and medium term support. Until a decisive breakout occurs, range bound trading between 0.7930 and 0.7970 is likely to dominate, offering tactical opportunities for short term traders while the broader downtrend remains intact.
In summary, USD/CHF’s climb to 0.7968 on 22nd January 2026 was not a clean breakout but rather a reaffirmation of overhead resistance. The interplay of moving averages, Fibonacci retracement, and momentum signals pointed to a market pausing at a critical juncture, with sellers defending supply and buyers awaiting confirmation for the next directional move.
#fxopen #forex #forexanalysis
Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.
For in-depth analysis, please check ...
