USD/CHF Price Analysis: Mildly bid near 0.9600, seesaws around 50% Fibonacci retracement

USD/CHF extends Monday’s recovery move from 38.2% Fibonacci retracement.
50-day SMA, 61.8% Fibonacci retracement question buyers.

Anil Panchal FXStreet

USD/CHF keeps the previous day’s U-turn while taking rounds to 0.9600 ahead of the European session on Tuesday. In doing so, the pair struggles around 50% Fibonacci retracement of its fall from October 2019 while also staying below the 50-day SMA.

However, price-positive RSI conditions seem to push the pair towards the immediate SMA resistance near 0.9670 ahead of questioning 61.8% Fibonacci retracement level of 0.9705.

In a case where the bulls dominate past-0.9705, January month high surrounding 0.9770 will be on their radars.

Alternatively, a daily close below 38.2% Fibonacci retracement level of 0.9505 can aim for 0.9410 and 0.9320 during the further downside.

USD/CHF daily chart

Trend: Sideways

Additional important levels

Overview
Today last price	0.9598
Today Daily Change	14 pips
Today Daily Change %	0.15%
Today daily open	0.9584

Trends
Daily SMA20	0.9581
Daily SMA50	0.9675
Daily SMA100	0.9747
Daily SMA200	0.9811

Levels
Previous Daily High	0.9611
Previous Daily Low	0.9502
Previous Weekly High	0.9902
Previous Weekly Low	0.9502
Previous Monthly High	0.9851
Previous Monthly Low	0.9609
Daily Fibonacci 38.2%	0.9569
Daily Fibonacci 61.8%	0.9544
Daily Pivot Point S1	0.9521
Daily Pivot Point S2	0.9457
Daily Pivot Point S3	0.9412
Daily Pivot Point R1	0.963
Daily Pivot Point R2	0.9675
Daily Pivot Point R3	0.9739

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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