USD/CHF Price Analysis: 21-day SMA, seven-week-old falling trendline question buyers

  • USD/CHF registers five-day winning streak, rises to a one-week high.
  • A downside break of 0.9644 can refresh monthly lows.
  • 38.2% Fibonacci retracement could lure buyers during further upside.

USD/CHF takes the bids to 0.9700, following the intra-day high of 0.9702, while heading into the European session on Wednesday.

The pair nears the key short-term resistance confluence including 21-day SMA 23.6% Fibonacci retracement of the pair November-January fall and a descending trend line since December 06 around 0.9707/13.

Should prices manage to provide a daily closing beyond 0.9717, an extended run-up to 38.2% Fibonacci retracement level of 0.9770 can’t be ruled out.

Meanwhile, lows marked on December 31 and January 17 highlights 0.9644 as the immediate support, a break of which could push the bears towards refreshing the 16-month low towards 0.9600 round-figure and then to September 2018 bottom surrounding 0.9540.

USD/CHF daily chart

Trend: Pullback expected

Additional important levels

Today last price 0.9699
Today Daily Change 13 pips
Today Daily Change % 0.13%
Today daily open 0.9686
Daily SMA20 0.9707
Daily SMA50 0.9814
Daily SMA100 0.9867
Daily SMA200 0.9905
Previous Daily High 0.9691
Previous Daily Low 0.9661
Previous Weekly High 0.9738
Previous Weekly Low 0.9613
Previous Monthly High 1.0009
Previous Monthly Low 0.9646
Daily Fibonacci 38.2% 0.968
Daily Fibonacci 61.8% 0.9672
Daily Pivot Point S1 0.9668
Daily Pivot Point S2 0.9649
Daily Pivot Point S3 0.9638
Daily Pivot Point R1 0.9698
Daily Pivot Point R2 0.9709
Daily Pivot Point R3 0.9728



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