• USD/CHF remains pressured around monthly low, retreats from daily top of late.
  • Oversold RSI conditions, 50% Fibonacci retracement level challenge immediate downside.
  • Key SMAs challenge recovery moves, ascending trend line from March offers an additional filter to the south.

USD/CHF struggles to stretch the week-start bear show despite the latest retreat from the daily high to 0.9560 heading into Tuesday’s European session.

That said, the Swiss currency (CHF) pair remains pressured around a one-month low, marked the previous day, but short-term key supports challenge the quote’s further downside.

It’s worth noting that the oversold RSI conditions join the 50% Fibonacci retracement (Fibo.) of March 31 to May 15 upside, near 0.9630, to restrict short-term USD/CHF declines.

Also challenging the pair bears is an upward sloping trend line from late March, close to 0.9615 at the latest.

Meanwhile, the 200-SMA and the latest swing high, respectively near 0.9685 and 0.9765, restrict the USD/CHF pair’s recovery moves.

Though, the convergence of the 100-SMA and 23.6% Fibo., around 0.9860-65, gains major attention.

USD/CHF: Four-hour chart

Trend: Corrective pullback expected

Additional important levels

Overview
Today last price 0.966
Today Daily Change 0.0001
Today Daily Change % 0.01%
Today daily open 0.9659
 
Trends
Daily SMA20 0.9833
Daily SMA50 0.9553
Daily SMA100 0.9386
Daily SMA200 0.9299
 
Levels
Previous Daily High 0.9751
Previous Daily Low 0.9628
Previous Weekly High 1.0064
Previous Weekly Low 0.9694
Previous Monthly High 0.9759
Previous Monthly Low 0.9221
Daily Fibonacci 38.2% 0.9675
Daily Fibonacci 61.8% 0.9704
Daily Pivot Point S1 0.9607
Daily Pivot Point S2 0.9556
Daily Pivot Point S3 0.9484
Daily Pivot Point R1 0.9731
Daily Pivot Point R2 0.9803
Daily Pivot Point R3 0.9855

 

 

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