USD/CHF Price Analysis: Pullback from 0.9900 eyes monthly support trendline

USD/CHF remains on the back foot.
The weekly resistance line guards the immediate upside.
200-bar SMA question sellers below the short-term support line.

Anil Panchal FXStreet

While extending its pullback moves from 0.9900, triggered during the early-week, USD/CHF drop to 0.9755, down 0.15%, amid the Asian session on Thursday.

The pair currently drops towards the monthly support line, at 0.9690, a break of which could again shift the market’s focus on a 200-bar SMA level of 0.9660.

If bears fail to respect the key SMA, 50% Fibonacci retracement level of the monthly run-up, at 0.9540, will be the key to watch.

On the contrary, the pair’s break above the weekly resistance line of 0.9810 could trigger fresh recovery moves that target 0.9900.

Also, the pair’s sustained rise past-0.9900 could challenge November 2019 high around 1.0025.

USD/CHF four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.9756
Today Daily Change	-15 pips
Today Daily Change %	-0.15%
Today daily open	0.9771

Trends
Daily SMA20	0.9592
Daily SMA50	0.9681
Daily SMA100	0.9758
Daily SMA200	0.9814

Levels
Previous Daily High	0.9835
Previous Daily Low	0.9755
Previous Weekly High	0.9901
Previous Weekly Low	0.9392
Previous Monthly High	0.9851
Previous Monthly Low	0.9609
Daily Fibonacci 38.2%	0.9785
Daily Fibonacci 61.8%	0.9804
Daily Pivot Point S1	0.9739
Daily Pivot Point S2	0.9707
Daily Pivot Point S3	0.9659
Daily Pivot Point R1	0.9819
Daily Pivot Point R2	0.9867
Daily Pivot Point R3	0.9898

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.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.