USD/CHF Price Analysis: Bears hold the baton despite recent recovery


  • 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

Trend: Bearish

Additional important levels

Overview
Today last price 0.9704
Today Daily Change 9 pips
Today Daily Change % 0.09%
Today daily open 0.9695
 
Trends
Daily SMA20 0.9694
Daily SMA50 0.9798
Daily SMA100 0.9861
Daily SMA200 0.9896
 
Levels
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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