- 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
|Today last price||0.9194|
|Today Daily Change||-0.0011|
|Today Daily Change %||-0.12%|
|Today daily open||0.9205|
|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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