USD/CHF Price Analysis: Sellers attack a three-week-old support line below 0.9500


  • USD/CHF recedes from intraday high of 0.9465.
  • Multiple Doji candlesticks around the key support line portray the traders’ indecision, Bearish MACD keeps sellers hopeful.
  • 100-bar EMA, 61.8% Fibonacci retracement limits the pair’s near-term upside.

USD/CHF registers another pullback from 0.9465/64 area while declining to 0.9458 during the pre-European session on Thursday. While a short-term support line stretched from June 11 currently questions the sellers, bearish MACD signals and sustained trading below 100-bar EMA suggests further downside of the quote.

Hence, traders should wait for a clear downside break of the said support line, currently around 0.9455, to aim for June 23 low near 0.9420 and 0.9400 round-figures.

However, June month bottom near 0.9375 will be the tough nut to crack for the pair sellers past-0.9400.

Alternatively, short-term buyers will look for entries beyond the 100-bar EMA level of 0.9501. In doing so, the June-end top near 0.9533 and 61.8% Fibonacci retracement of June-05-11 fall, around 0.9550, could be on their radars.

In a case where the bulls dominate past-0.9550, 0.9590 and 0.9600 could offer intermediate halts during the run-up to 0.9650.

USD/CHF four-hour chart

Trend: Further downside expected

Additional important levels

Overview
Today last price 0.9459
Today Daily Change 1 pip
Today Daily Change % 0.01%
Today daily open 0.9458
 
Trends
Daily SMA20 0.95
Daily SMA50 0.9616
Daily SMA100 0.9641
Daily SMA200 0.9739
 
Levels
Previous Daily High 0.9494
Previous Daily Low 0.9445
Previous Weekly High 0.9527
Previous Weekly Low 0.942
Previous Monthly High 0.9651
Previous Monthly Low 0.9376
Daily Fibonacci 38.2% 0.9464
Daily Fibonacci 61.8% 0.9475
Daily Pivot Point S1 0.9437
Daily Pivot Point S2 0.9417
Daily Pivot Point S3 0.9388
Daily Pivot Point R1 0.9487
Daily Pivot Point R2 0.9515
Daily Pivot Point R3 0.9536

 

 

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