- USD/CHF stays beyond 23.6% Fibonacci retracement but fails to clear a fortnight-long falling trend line.
- 200-bar SMA, 61.8% Fibonacci retracement add to resistance.
USD/CHF pierces 0.9700 by the press time of early Tuesday. The pair have recently been recovering but a downward sloping trend line since January 16 caps immediate upside.
Even if the buyers cross 0.9715 resistance line, 200-bar SMA and 61.8% Fibonacci retracement of its December 24, 20119 to January 16, 2020 fall, near 0.9735 and 0.9750 respectively, could challenge the bulls.
In a case where the USD/CHF prices rally beyond 0.9750, January 10 top surrounding 0.9765 could challenge further upside.
Meanwhile, 23.6% Fibonacci retracement, at 0.9665, holds the key to pair’s declines towards the monthly bottom of 0.9613 and then to 0.9600 round-figure.
USD/CHF four-hour chart
Additional important levels
|Today last price||0.9704|
|Today Daily Change||9 pips|
|Today Daily Change %||0.09%|
|Today daily open||0.9695|
|Previous Daily High||0.972|
|Previous Daily Low||0.9681|
|Previous Weekly High||0.973|
|Previous Weekly Low||0.9661|
|Previous Monthly High||1.0009|
|Previous Monthly Low||0.9646|
|Daily Fibonacci 38.2%||0.9696|
|Daily Fibonacci 61.8%||0.9705|
|Daily Pivot Point S1||0.9677|
|Daily Pivot Point S2||0.966|
|Daily Pivot Point S3||0.9638|
|Daily Pivot Point R1||0.9716|
|Daily Pivot Point R2||0.9738|
|Daily Pivot Point R3||0.9755|
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