• USD/CHF fades bounce off monthly low, sidelined of late.
  • Bearish MACD signals, clear downside break of previous support keeps sellers hopeful.
  • One-month-old horizontal area, 21-DMA adds to the upside filters.

USD/CHF struggles to defend the previous day’s bounce off a one-month low, floating around 0.9615 during Thursday’s quiet Asian session after snapping a two-day downtrend the previous day.

The Swiss currency (CHF) pair’s inability to cross the 50% Fibonacci retracement (Fibo.) level of March-May upside, around 0.9630, joins bearish MACD signals to challenge short-term buyers.

Also keeping the bears hopeful is the existence of the support-turned-resistance line from March 31 and a monthly horizontal area, respectively near 0.9665 and 0.9700.

Meanwhile, pullback moves could aim for the 50-DMA retest, at 0.9565 by the press time, ahead of challenging the 61.8% Fibo. near 0.9525.

Should the USD/CHF prices drop below 0.9525, the pair sellers won’t hesitate to conquer the 0.9500 threshold while targeting the latest April swing low surrounding 0.9455.

USD/CHF: Daily chart

Trend: Further weakness expected

Additional important levels

Today last price 0.9616
Today Daily Change -0.0004
Today Daily Change % -0.04%
Today daily open 0.962
Daily SMA20 0.9829
Daily SMA50 0.9561
Daily SMA100 0.9395
Daily SMA200 0.9304
Previous Daily High 0.9642
Previous Daily Low 0.9598
Previous Weekly High 1.0064
Previous Weekly Low 0.9694
Previous Monthly High 0.9759
Previous Monthly Low 0.9221
Daily Fibonacci 38.2% 0.9625
Daily Fibonacci 61.8% 0.9615
Daily Pivot Point S1 0.9598
Daily Pivot Point S2 0.9576
Daily Pivot Point S3 0.9554
Daily Pivot Point R1 0.9642
Daily Pivot Point R2 0.9664
Daily Pivot Point R3 0.9686



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