- USD/CHF stays below 10-day SMA for 11 days in a row, trims Monday’s gains.
- Bearish MACD, key upside hurdle challenge the bulls.
- Swiss Q3 GDP is expected to reverse -7.3% previous with +5.9% QoQ growth.
USD/CHF stays depressed near 0.9070, down 0.20% intraday, while heading into Tuesday’s European session. In doing so, the pair marked reversal from the 10-day SMA ahead of the key Q3 GDP data from Switzerland, up for publishing at .6:45 GMT.
Considering the pair’s inability to cross 10-day SMA, currently around 0.9090, coupled with upbeat expectations from the Swiss GDP, the USD/CHF prices are likely to remain pressured.
During the downward trajectory, 0.9040 and Monday’s low near 0.9020 can offer intermediate halts before directing the USD/CHF bears to November’s bottom surrounding 0.8980.
Alternatively, a falling trend line from November 11, at 0.9117 now, will precede the 100-day SMA level of 0.9141, to add a few more hurdles to the north.
It should, however, be noted that the USD/CHF buyers’ ability to cross 0.9141 enables them to challenge the previous month’s peak close to 0.9210.
USD/CHF daily chart
Additional important levels
|Today last price||0.9071|
|Today Daily Change||-17 pips|
|Today Daily Change %||-0.19%|
|Today daily open||0.9088|
|Previous Daily High||0.9089|
|Previous Daily Low||0.9019|
|Previous Weekly High||0.9148|
|Previous Weekly Low||0.9041|
|Previous Monthly High||0.9208|
|Previous Monthly Low||0.8982|
|Daily Fibonacci 38.2%||0.9063|
|Daily Fibonacci 61.8%||0.9046|
|Daily Pivot Point S1||0.9042|
|Daily Pivot Point S2||0.8996|
|Daily Pivot Point S3||0.8972|
|Daily Pivot Point R1||0.9112|
|Daily Pivot Point R2||0.9136|
|Daily Pivot Point R3||0.9182|
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