USD/CHF Price Analysis: Snaps two-day rebound from 200-DMA


  • USD/CHF consolidates intraday losses but stays mildly offered below 50-DMA.
  • Bearish MACD, failures to cross the immediate moving average keep sellers hopeful.

USD/CHF recovers from intraday low towards the 0.9200 as European traders brush their screens for a long Wednesday. Even so, the Swiss currency (CHF) pair prints 0.12% daily losses, the first in a week, by the press time.

In doing so, the quote fades the early week bounce off 200-DMA while easing from 50-DMA. Also favoring the sellers are the bearish MACD signals and the pair’s sustained trading below the previous support line from early August.

That said. the 200-DMA level of 0.9146 gains immediate attention of the sellers ahead of the mid-August lows near 0.9100. However, any further weakness will be probed by 0.9020.

Meanwhile, corrective pullback remains less important until crossing the 50-DMA level of 0.9220.

Even if the quote rises past 0.9220, the support-turned-resistance line will challenge the USD/CHF bulls around 0.9285.

In a case where the quote remains firmer past 0.9285, September’s peak of 0.9332 may offer an intermediate halt during the quote’s rally targeting the yearly top surrounding 0.9370.

USD/CHF: Daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 0.9194
Today Daily Change -0.0011
Today Daily Change % -0.12%
Today daily open 0.9205
 
Trends
Daily SMA20 0.9251
Daily SMA50 0.9219
Daily SMA100 0.9183
Daily SMA200 0.9145
 
Levels
Previous Daily High 0.9226
Previous Daily Low 0.9187
Previous Weekly High 0.9273
Previous Weekly Low 0.9151
Previous Monthly High 0.9368
Previous Monthly Low 0.9116
Daily Fibonacci 38.2% 0.9211
Daily Fibonacci 61.8% 0.9202
Daily Pivot Point S1 0.9186
Daily Pivot Point S2 0.9167
Daily Pivot Point S3 0.9147
Daily Pivot Point R1 0.9225
Daily Pivot Point R2 0.9245
Daily Pivot Point R3 0.9264

 

 

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