USD/CHF Price Analysis: 100-HMA tests sellers around 0.9000

USD/CHF trims early Asian gains while keeping Friday’s pullback from December 01.
Bulls need to regain above the previous support line, sellers can look towards key Fibonacci retracement supports.

Anil Panchal FXStreet

USD/CHF eases to 0.8996 while trimming the early Asian gains during the pre-European session trading on Monday. In doing so, the quote wavers around 100-HMA but keeps Friday’s downside break of an ascending support line from January 02.

As a result, USD/CHF sellers remain hopeful to attack the 50% and 61.8% Fibonacci retracement of January 28 to February 05 upside, respectively at 0.8957 and 0.8937.

Though, any further weakness past-0.8937 will need a confirmatory drop below the 0.8900 threshold to keep the USD/CHF bears happy.

Alternatively, clear trading above 100-HMA level of 0.9000 needs to cross the previous support line, at 0.9035 now, to refresh the monthly peak surrounding 0.9045.

In a case where the USD/CHF bulls remain dominant past-0.9045, December’s peak surrounding 0.9095 and the 0.9100 round-figure will gain the market’s attention.

USD/CHF hourly chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.8998
Today Daily Change	7 pips
Today Daily Change %	0.08%
Today daily open	0.8991

Trends
Daily SMA20	0.8911
Daily SMA50	0.8892
Daily SMA100	0.9014
Daily SMA200	0.9191

Levels
Previous Daily High	0.9046
Previous Daily Low	0.8989
Previous Weekly High	0.9046
Previous Weekly Low	0.8901
Previous Monthly High	0.8926
Previous Monthly Low	0.8758
Daily Fibonacci 38.2%	0.901
Daily Fibonacci 61.8%	0.9024
Daily Pivot Point S1	0.8971
Daily Pivot Point S2	0.8952
Daily Pivot Point S3	0.8915
Daily Pivot Point R1	0.9028
Daily Pivot Point R2	0.9065
Daily Pivot Point R3	0.9085

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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