- USD/CHF keeps the US session range between 0.9460 and 0.96480.
- Failure to cross 21-day SMA drags the quote to near-term trend line support.
- 50% of Fibonacci retracement adds to the upside barrier.
USD/CHF drops to 0.9468, down 0.09% on a day, during the pre-European session on Wednesday. Even so, the late Tuesday's trading range stays intact. However, the pair’s U-turn from 21-day SMA keeps sellers hopeful.
As a result, an upward sloping trend line from June 11, at 0.6450 now, pop-up on the sellers’ radars as immediate support.
Though, the pair’s inability to balance around 0.6450 could boost the downside momentum towards June 23 low near 0.6420 and 0.6400 threshold ahead of the previous month’s low near 0.6375.
Meanwhile, 50% Fibonacci retracement of the pair’s March month upside, near 0.9545, will offer an additional challenge to the buyers past-21-day SMA level of 0.9506.
Additionally, May 01 low close to 0.9590 will be an extra hurdle for the bulls to justify their strength past-0.9545.
USD/CHF daily chart
Trend: Further weakness expected
Additional important levels
|Today last price||0.9472|
|Today Daily Change||0.0000|
|Today Daily Change %||0.00|
|Today daily open||0.9472|
|Previous Daily High||0.9533|
|Previous Daily Low||0.9461|
|Previous Weekly High||0.9527|
|Previous Weekly Low||0.942|
|Previous Monthly High||0.9651|
|Previous Monthly Low||0.9376|
|Daily Fibonacci 38.2%||0.9489|
|Daily Fibonacci 61.8%||0.9506|
|Daily Pivot Point S1||0.9445|
|Daily Pivot Point S2||0.9417|
|Daily Pivot Point S3||0.9374|
|Daily Pivot Point R1||0.9516|
|Daily Pivot Point R2||0.956|
|Daily Pivot Point R3||0.9588|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.