USD/CHF Price Analysis: Pulls back from 0.9640 resistance confluence

USD/CHF marks another failure to cross 10-DMA, 50% Fibonacci retracement level.
Pullback moves appear limited unless breaking 0.9520 support.
Steady RSI, bearish MACD signals favor sellers inside a 120-pip trading range.

Anil Panchal FXStreet

USD/CHF takes offers to refresh intraday low around 0.9620 during Monday’s Asian session. In doing so, the Swiss currency (CHF) pair justifies the strength of the 0.9640 hurdle comprising the 10-DMA and 50% Fibonacci retracement level of late March to the mid-May upside.

Also keeping the USD/CHF bears hopeful are the downbeat MACD signals and mostly steady RSI (14) line.

Even so, the major currency pair is likely to remain sidelined unless closing below the 61.8% Fibonacci retracement level of 0.9520.

Following that, a south-run targeting a late March swing high near 0.9380 will be in focus. It’s worth noting that the 0.9400 threshold may act as a buffer during the fall.

Alternatively, a daily closing beyond 0.9640 could quickly propel USD/CHF prices towards the 0.9700 round figure.

However, the pair buyers are likely to remain confused until the quote stays below the 23.6% Fibonacci retracement level of 0.9860.

USD/CHF: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.9619
Today Daily Change	-0.0007
Today Daily Change %	-0.07%
Today daily open	0.9626

Trends
Daily SMA20	0.9763
Daily SMA50	0.96
Daily SMA100	0.9424
Daily SMA200	0.9319

Levels
Previous Daily High	0.9643
Previous Daily Low	0.9557
Previous Weekly High	0.9659
Previous Weekly Low	0.9554
Previous Monthly High	1.0064
Previous Monthly Low	0.9545
Daily Fibonacci 38.2%	0.961
Daily Fibonacci 61.8%	0.959
Daily Pivot Point S1	0.9575
Daily Pivot Point S2	0.9523
Daily Pivot Point S3	0.9488
Daily Pivot Point R1	0.9661
Daily Pivot Point R2	0.9695
Daily Pivot Point R3	0.9747

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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