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USD/CHF Price Analysis: Trapped between 0.9600, 200-bar SMA, looks for direction

  • USD/CHF remains modestly changed after declining below 200-bar SMA.
  • A seven-day-old falling trend line acts as additional resistance.
  • Sellers will look for entry below the three-week-old rising trend line.

USD/CHF remains choppy between 0.9600 and 0.9630 ahead of the European session on Wednesday. In doing so, the quote remains below the short-term falling trend line and 200-bar SMA while also staying above an ascending support line since March 09.

It should also be noted that the pair’s neutral conditions could also be witnessed in the RSI moves that are in the normal territory inside the 30-70 range.

23.6% Fibonacci retracement of the previous month’s upside, around 0.9735 can please buyers if they manage to successfully cross, 200-bar SMA and aforementioned resistance line, respectively near 0.9640 and 0.9670.

On the downside, Friday’s low around 0.9500 can question the sellers past-0.9550 support line break ahead of pushing them to 61.8% Fibonacci retracement around 0.9455.

USD/CHF four-hour chart

Trend: SIdeways

Additional important levels

Overview
Today last price0.9611
Today Daily Change0.0000
Today Daily Change %0.00
Today daily open0.9611
 
Trends
Daily SMA200.9583
Daily SMA500.9674
Daily SMA1000.9744
Daily SMA2000.9811
 
Levels
Previous Daily High0.9686
Previous Daily Low0.9581
Previous Weekly High0.9902
Previous Weekly Low0.9502
Previous Monthly High0.9902
Previous Monthly Low0.9183
Daily Fibonacci 38.2%0.9646
Daily Fibonacci 61.8%0.9621
Daily Pivot Point S10.9566
Daily Pivot Point S20.9521
Daily Pivot Point S30.9461
Daily Pivot Point R10.9671
Daily Pivot Point R20.9731
Daily Pivot Point R30.9777

Author

Anil Panchal

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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