USD/CHF Price Analysis: Bears attack 200-DMA with eyes on 0.9157

USD/CHF remains on the back foot for the second consecutive day.
Break of six-week-old trend line joins bearish MACDI signal to favor bears.
November 30 lures short-term sellers, 23.6% Fibonacci retracement adds to upside filters.

Anil Panchal FXStreet

USD/CHF stays offered around a fortnight low, down 0.09% intraday near 0.9181 heading into Friday’s European session.

In doing so, the Swiss currency (CHF) pair sellers battle with the 200-DMA level after breaking an ascending support line from November 02 the previous day. Adding strength to the bearish bias is the MACD conditions and multiple rejections from 23.6% Fibonacci retracement (Fibo.) of June-November upside.

That said, the USD/CHF sellers are on the way to the November 30 low of 0.9157 but need validation from the 200-DMA level of 0.9180.

Following that, the 50% Fibo. and an ascending support line from early August, respectively around 0.9150 and 0.9125, will be in focus.

On the contrary, the corrective pullback will challenge the support-turned-resistance line near 0.9200.

Even so, USD/CHF bulls remain cautious until rising back beyond the 23.6% Fibonacci retracement level of 0.9267, which in turn will direct the advances towards November’s peak near 0.9375.

USD/CHF: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.9182
Today Daily Change	-0.0008
Today Daily Change %	-0.09%
Today daily open	0.919

Trends
Daily SMA20	0.9247
Daily SMA50	0.9218
Daily SMA100	0.9206
Daily SMA200	0.9181

Levels
Previous Daily High	0.9256
Previous Daily Low	0.919
Previous Weekly High	0.9275
Previous Weekly Low	0.917
Previous Monthly High	0.9374
Previous Monthly Low	0.9088
Daily Fibonacci 38.2%	0.9215
Daily Fibonacci 61.8%	0.9231
Daily Pivot Point S1	0.9168
Daily Pivot Point S2	0.9145
Daily Pivot Point S3	0.9101
Daily Pivot Point R1	0.9235
Daily Pivot Point R2	0.9279
Daily Pivot Point R3	0.9302

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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