USD/CHF Price Analysis: Mildly offered below 0.9500, eyes three-week-old support line


  • 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

Overview
Today last price 0.9472
Today Daily Change 0.0000
Today Daily Change % 0.00
Today daily open 0.9472
 
Trends
Daily SMA20 0.9508
Daily SMA50 0.9622
Daily SMA100 0.9644
Daily SMA200 0.9742
 
Levels
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

 

 

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