USD/CHF Price Analysis: Flashes 13-day high, 50-day SMA on bulls’ radar


  • USD/CHF trades successfully above 21-day SMA, 23.6% Fibonacci retracement.
  • Positive oscillators favor further upside, 0.9832/37 can stop buyers beyond 50-day SMA.
  • 0.9600 will gain the bear’s attention below the monthly bottom.

USD/CHF takes the bids to 0.9740, following an intra-day high of 0.9744, amid the initial trading session on Wednesday. The pair recently crossed 21-day SMA and 23.6% Fibonacci retracement of its October 2019 to January 16, 2020 low. If the same is looked in conjunction with the price-positive oscillators like MACD and RSI, the current recovery is likely to extend.

In doing so, January 10 top of 0.9763 and 38.2% Fibonacci retracement near 0.9771 can offer immediate resistance ahead of highlighting a 50-day SMA level of 0.9791.

If at all bulls remain interested beyond 0.9791, an area comprising October 2019 low and multiple tops marked during late-December 2019, around 0.9832/37 could return to the charts.

Alternatively, pair’s declines below 23.6% Fibonacci retracement and 21-day SMA, respectively near 0.9710 and 0.9698, can push the bears towards 0.9660 and the monthly low of 0.9613.

During the quote’s extended south-run past-0.9613, 0.9600 will be in focus.

USD/CHF daily chart

Trend: Recovery expected

Additional important levels

Overview
Today last price 0.9742
Today Daily Change 0.0015
Today Daily Change % 0.15
Today daily open 0.9727
 
Trends
Daily SMA20 0.9696
Daily SMA50 0.9794
Daily SMA100 0.9859
Daily SMA200 0.9893
 
Levels
Previous Daily High 0.9743
Previous Daily Low 0.9678
Previous Weekly High 0.973
Previous Weekly Low 0.9661
Previous Monthly High 1.0009
Previous Monthly Low 0.9646
Daily Fibonacci 38.2% 0.9718
Daily Fibonacci 61.8% 0.9703
Daily Pivot Point S1 0.9689
Daily Pivot Point S2 0.9651
Daily Pivot Point S3 0.9624
Daily Pivot Point R1 0.9754
Daily Pivot Point R2 0.9781
Daily Pivot Point R3 0.9819

 

 

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