USD/CHF Price Analysis: 200-day EMA questions pullback from 0.9770/75 support confluence

USD/CHF bounces off the short-term key support confluence comprising 21 and 50-day EMA as well as 38.2% Fibonacci retracement.
200-day EMA, 61.8% Fibonacci challenge buyers amid bullish MACD.

Anil Panchal FXStreet

USD/CHF registers 0.21% gains while taking the bids around 0.9805 during the early Monday. The pair recently reversed from 21/50-day EMA and 38.2% Fibonacci retracement of October 2019 to January 2020 declines. Also supporting the pullback are bullish signals from MACD.

That said, the pair now aims to confront 50% Fibonacci retracement level of 0.9820 whereas a 200-day EMA level of 0.9845 becomes the tough nut to crack for buyers afterward.

Should there be a sustained run-up beyond 0.9845, 61.8% Fibonacci retracement level of 0.9870 and 0.9900 will be on the bulls’ radars.

Alternatively, the pair’s daily closing below 0.9770/75 support confluence can divert sellers towards 0.9750/45 ahead of highlighting a 23.6% Fibonacci retracement level of 0.9710.

USD/CHF daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.9784
Today Daily Change	0.0000
Today Daily Change %	0.00
Today daily open	0.9784

Trends
Daily SMA20	0.9756
Daily SMA50	0.974
Daily SMA100	0.9828
Daily SMA200	0.9858

Levels
Previous Daily High	0.9848
Previous Daily Low	0.977
Previous Weekly High	0.9851
Previous Weekly Low	0.977
Previous Monthly High	0.9768
Previous Monthly Low	0.9613
Daily Fibonacci 38.2%	0.98
Daily Fibonacci 61.8%	0.9818
Daily Pivot Point S1	0.9753
Daily Pivot Point S2	0.9723
Daily Pivot Point S3	0.9675
Daily Pivot Point R1	0.9831
Daily Pivot Point R2	0.9878
Daily Pivot Point R3	0.9909

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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