USD/CHF Price Analysis: Resistance-turned-support defends bulls below 0.9300


  • USD/CHF grinds lower despite staying above previous resistance line.
  • 20-SMA, bearish MACD challenges buyers, two-week-old rising trend line adds to the downside filters.

USD/CHF flirts with short-term support line, previous resistance, around 0.9275 during the pre-European session on Tuesday.

Even so, bearish MACD signals and failures to cross 20-SMA immediate hurdle challenges the Swiss currency (CHF) pair buyers, keeping sellers hopeful.

However, a clear downside break of 0.9270 support line figures becomes necessary for the bears to tighten the grips and aim for an ascending support line from September 08, near 0.9250.

Also acting as a downside filter are the early month tops surrounding 0.9230 and the 0.9200.

On the flip side, recovery moves may gain momentum on crossing the 20-SMA level close to 0.9285.

Following that, the monthly high near 0.9335 and March’s high close to 0.9375 will be in focus before directing the USD/CHF bulls to the yearly peak of 0.9472.

To sum up, USD/CHF bulls fail to keep the reins and hence the previous day’s pullback is likely to extend.

USD/CHF: Four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 0.9275
Today Daily Change 0.0000
Today Daily Change % 0.00%
Today daily open 0.9275
 
Trends
Daily SMA20 0.9186
Daily SMA50 0.9165
Daily SMA100 0.9121
Daily SMA200 0.9094
 
Levels
Previous Daily High 0.9333
Previous Daily Low 0.9271
Previous Weekly High 0.9325
Previous Weekly Low 0.9164
Previous Monthly High 0.9242
Previous Monthly Low 0.9019
Daily Fibonacci 38.2% 0.9295
Daily Fibonacci 61.8% 0.9309
Daily Pivot Point S1 0.9253
Daily Pivot Point S2 0.9231
Daily Pivot Point S3 0.9191
Daily Pivot Point R1 0.9315
Daily Pivot Point R2 0.9355
Daily Pivot Point R3 0.9377

 

 

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