- USD/CHF stays pressured near intraday low, extends pullback from 50% Fibonacci retracement.
- Three-month-old horizontal support tests sellers amid downbeat Momentum.
- 200-day EMA guards immediate upside, monthly high adds to the northside filters.
USD/CHF takes offers around 0.9138, refreshes intraday low with 0.07% losses on a day, as European traders await Thursday’s bell.
The major currency pair took a U-turn from 50% Fibonacci retracement level of April–June downside the previous day. However, a horizontal area comprising multiple levels marked since mid-April and 38.2% Fibonacci retracement challenges the bears of late.
Given the downbeat Momentum line, USD/CHF is likely to remain bearish but a daily closing below 0.9130 will bolster the downside momentum.
Following that, May 12 top near 0.9090 and 23.6% Fibonacci retracement level near 0.9055 could please the bear ahead of the yearly bottom surrounding 0.8926.
On the flip side, a daily closing beyond 200-day EMA, around 0.9145, becomes necessary for the pair buyers to bounce back towards a 50% Fibonacci retracement level near 0.9200.
However, the USD/CHF bulls won’t be convinced until the quote stays below 61.8% Fibonacci retracement level of 0.9264.
USD/CHF: Daily chart
Trend: Further weakness expected
Additional important levels
|Today last price||0.9138|
|Today Daily Change||-0.0007|
|Today Daily Change %||-0.08%|
|Today daily open||0.9145|
|Previous Daily High||0.9199|
|Previous Daily Low||0.9142|
|Previous Weekly High||0.9268|
|Previous Weekly Low||0.9133|
|Previous Monthly High||0.9262|
|Previous Monthly Low||0.8926|
|Daily Fibonacci 38.2%||0.9164|
|Daily Fibonacci 61.8%||0.9177|
|Daily Pivot Point S1||0.9125|
|Daily Pivot Point S2||0.9105|
|Daily Pivot Point S3||0.9068|
|Daily Pivot Point R1||0.9182|
|Daily Pivot Point R2||0.9218|
|Daily Pivot Point R3||0.9238|
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