USD/CHF Price Analysis: Registers three-day winning streak, probes 21-day EMA


  • USD/CHF extends recovery from mid-January lows.
  • A ten-week-old falling trend line, short-term horizontal resistance area will challenge the pair’s latest pullback.
  • The pair’s break of yearly low can push the bears towards late-2018 lows.

USD/CHF takes the bids to 0.9700 during the pre-European session on Wednesday. That said, 21-day EMA limits the pair’s immediate upside amid the bullish MACD signals.

Even if the pair manages to clear the 0.9700 mark on a daily closing basis, a downward sloping trend line since November 29, at 0.9740, will stand tall to question the buyers.

Additionally, 0.9770/63 area including December 12, 2019, low and highs marked from January could keep a tab on the bulls past-0.9740.

Meanwhile, the last week’s low near 0.9660 and the yearly bottom surrounding 0.9613 can take rest around 0.9600 ahead of challenging September 2018 trough close to 0.9540.

USD/CHF daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 0.9696
Today Daily Change 6 pips
Today Daily Change % 0.06%
Today daily open 0.969
 
Trends
Daily SMA20 0.9692
Daily SMA50 0.9768
Daily SMA100 0.9847
Daily SMA200 0.988
 
Levels
Previous Daily High 0.9705
Previous Daily Low 0.9653
Previous Weekly High 0.9768
Previous Weekly Low 0.9629
Previous Monthly High 0.9768
Previous Monthly Low 0.9613
Daily Fibonacci 38.2% 0.9685
Daily Fibonacci 61.8% 0.9673
Daily Pivot Point S1 0.966
Daily Pivot Point S2 0.9631
Daily Pivot Point S3 0.9608
Daily Pivot Point R1 0.9712
Daily Pivot Point R2 0.9735
Daily Pivot Point R3 0.9764

 

 

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