- 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|
|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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