USD/CHF Price Analysis: 10-day SMA probes the halt to three-day losing streak

USD/CHF keeps recovery from 0.9087 to challenge the sellers.
Bullish MACD, repeated failures to stay well below 0.9100 favor the buyers.
A two-week-old falling trend line adds to the upside barriers.

Anil Panchal FXStreet

USD/CHF bears catch a breather around 0.9093 during the pre-European trading on Monday. In doing so, the pair stalls the three-day losing streak amid bullish MACD.

Not only the MACD but multiple pullbacks from the sub-0.9100 area also tease the bulls to take entry.

While identifying the odds for it, a daily close past-10-day SMA level of 0.9117 becomes the first hurdle to clear ahead of a short-term falling trend line near 0.9180.

If at all the bulls manage to cross 0.9180, the monthly top close to 0.9245 will be attacked while keeping the early-July low of 0.9362 on the watch-list.

Meanwhile, 0.9080 and 0.9050 can entertain the short-term sellers ahead of diverting them to the 0.9000 threshold. Additionally, the pair’s extended weakness below 0.9000 might not refrain from attacking July 2014 bottom surrounding 0.8860/55.

USD/CHF daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.9094
Today Daily Change	2 pips
Today Daily Change %	0.02%
Today daily open	0.9092

Trends
Daily SMA20	0.9173
Daily SMA50	0.9347
Daily SMA100	0.9516
Daily SMA200	0.9633

Levels
Previous Daily High	0.9123
Previous Daily Low	0.9087
Previous Weekly High	0.9198
Previous Weekly Low	0.9082
Previous Monthly High	0.9494
Previous Monthly Low	0.9056
Daily Fibonacci 38.2%	0.9101
Daily Fibonacci 61.8%	0.9109
Daily Pivot Point S1	0.9079
Daily Pivot Point S2	0.9065
Daily Pivot Point S3	0.9043
Daily Pivot Point R1	0.9115
Daily Pivot Point R2	0.9137
Daily Pivot Point R3	0.9151

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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