USD/CHF Price Analysis: Pullback from 50-day EMA shifts focus to weekly support trendline


  • USD/CHF slips from a two-week high.
  • 61.8% Fibonacci retracement, 200-day EMA add to the resistances.

While extending its U-turn from 50-day EMA, USD/CHF drops 0.30% to 0.9583 ahead of the European session on Wednesday.

The pair currently declines towards 38.2% Fibonacci retracement of its fall from November 2019, at 0.9500. However, an upward sloping trend line since March 09, near 0.9470 now, could restrict further downside.

In a case where the bears dominate past-0.9470, 0.9400 and 0.9320 will offer intermediate halts to the pair’s southward trajectory towards the monthly low around 0.9180.

Meanwhile, a daily closing beyond 50-day EMA level of 0.9650 needs to overcome 61.8% of Fibonacci retracement, close to 0.9700, ahead of confronting 200-day EMA figures surrounding 0.9800.

Should there be a clear run-up past-0.9800, November month highs close to 1.0023 may lure the bulls.

USD/CHF daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 0.9584
Today Daily Change -28 pips
Today Daily Change % -0.29%
Today daily open 0.9612
 
Trends
Daily SMA20 0.9588
Daily SMA50 0.9668
Daily SMA100 0.9763
Daily SMA200 0.9819
 
Levels
Previous Daily High 0.9649
Previous Daily Low 0.9448
Previous Weekly High 1.189
Previous Weekly Low 0.9183
Previous Monthly High 0.9851
Previous Monthly Low 0.9609
Daily Fibonacci 38.2% 0.9572
Daily Fibonacci 61.8% 0.9525
Daily Pivot Point S1 0.949
Daily Pivot Point S2 0.9369
Daily Pivot Point S3 0.9289
Daily Pivot Point R1 0.9691
Daily Pivot Point R2 0.9771
Daily Pivot Point R3 0.9892

 

 

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