USD/CHF Price Analysis: Consolidates recent gains below 21-day EMA

USD/CHF holds lower ground after a two-day uptrend.
Descending triangle, bullish MACD keeps buyers hopeful beyond 0.8925.

Anil Panchal FXStreet

USD/CHF eases to 0.8993, down 0.06% intraday, amid sluggish trading ahead of Tuesday’s European session.

The Swiss currency pair rose during the last two days before recently stepping back from 21-day EMA near the 0.9000 threshold.

Even so, upbeat MACD signals and a short-term falling triangle favor USD/CHF bulls unless the quote refreshes the multi-month low of 0.8926.

It should, however, be noted that pullback moves towards 0.8970 and then to 0.8950 can’t be ruled out.

Meanwhile, an upside clearance of 21-day EMA hurdle around the 0.9000 needs to confirm the bullish chart pattern with a daily close beyond 0.9020 to aim for the previous month’s top surrounding 0.9165.

However, the monthly top near 0.9055, followed by the mid-May high near 0.9095, acts as an intermediate halt during the run-up to 0.9165.

USD/CHF daily chart

Trend: Sideways

Additional important levels

Overview
Today last price	0.8993
Today Daily Change	-0.0006
Today Daily Change %	-0.07%
Today daily open	0.8999

Trends
Daily SMA20	0.8982
Daily SMA50	0.9078
Daily SMA100	0.9111
Daily SMA200	0.907

Levels
Previous Daily High	0.9002
Previous Daily Low	0.8978
Previous Weekly High	0.901
Previous Weekly Low	0.8926
Previous Monthly High	0.9165
Previous Monthly Low	0.893
Daily Fibonacci 38.2%	0.8993
Daily Fibonacci 61.8%	0.8987
Daily Pivot Point S1	0.8984
Daily Pivot Point S2	0.8969
Daily Pivot Point S3	0.8961
Daily Pivot Point R1	0.9008
Daily Pivot Point R2	0.9016
Daily Pivot Point R3	0.9031

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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