• USD/CHF recovers from 0.9148 after breaking one-week-old ascending trend channel.
  • Buyers will wait for entries unless stepping back inside the channel formation.
  • The weekly low can offer immediate support ahead of 0.9100 round-figures.

USD/CHF trims initial losses while picking up bids near 0.9152 during the pre-European session on Tuesday. The pair broke a four-day-old ascending trend channel formation but 200-hour EMA and 50% Fibonacci retracement of its August 03-05 downside triggered its latest pullback.

Even so, bearish MACD challenges the optimism while also highlighting the channel’s support line, at 0.9160. If at all the pair manages to cross 0.9160, 61.8% Fibonacci retracement level around 0.9168 could gain market attention.

However, bulls’ ability to cross 0.9168 will swiftly cross 0.9200 to attack the channel’s upper line, currently around 0.9210.

Meanwhile, a downside break of 0.9147 support confluence will direct the sellers towards the weekly low near 0.9122 and then to the 0.9100 threshold.

In a case where the bears command past-0.9100, Wednesday’s multi-month low of 0.9050 will be the key ahead of 0.9000 psychological magnet.

USD/CHF hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 0.9154
Today Daily Change -2 pips
Today Daily Change % -0.02%
Today daily open 0.9156
 
Trends
Daily SMA20 0.9233
Daily SMA50 0.9385
Daily SMA100 0.9538
Daily SMA200 0.965
 
Levels
Previous Daily High 0.9184
Previous Daily Low 0.9122
Previous Weekly High 0.9242
Previous Weekly Low 0.9051
Previous Monthly High 0.9494
Previous Monthly Low 0.9056
Daily Fibonacci 38.2% 0.9161
Daily Fibonacci 61.8% 0.9146
Daily Pivot Point S1 0.9124
Daily Pivot Point S2 0.9092
Daily Pivot Point S3 0.9062
Daily Pivot Point R1 0.9187
Daily Pivot Point R2 0.9217
Daily Pivot Point R3 0.9249

 

 

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