USD/CHF technical analysis: Bull in control above 21-day EMA, short-term rising support-line
|- USD/CHF remains modestly changed above 13-day-old rising trend-line, 21-day EMA.
- An ascending trend-line from August 13 adds to the support.
- August month top, 61.8% Fibonacci retracement level challenge buyers.
The USD/CHF pair’s failure to provide a decisive break above August high seems to not disappoint buyers, even for short-term, unless the quote trades below key support-confluence. Prices seesaw around 0.9910 while heading into the European open on Monday.
The 0.9892/0.9900 area including 21-day exponential moving average (EMA) and a rising trend-line since September 04 acts as near-term key support to watch as the break of which could drag prices to 38.2% Fibonacci retracement of April-August declines, at 0.9880.
Pair’s south-run below 0.9880 can avail 0.9840 and nearly six-week-long ascending support-line around 0.9820 as rest-points.
On the upside, the recent high of 0.9985 and 61.8% Fibonacci retracement level of 1.0017 keep challenging buyers.
USD/CHF daily chart
Trend: bullish
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.