USD/CHF Price Analysis: Weak below 21-day EMA, two-week-old falling trendline`


  • USD/CHF confronts near-term key resistances.
  • The previous week’s low can lure short-term sellers.
  • 50-day EMA, 38.2% Fibonacci retracement confluence add to the resistance.

USD/CHF struggles to extend the latest recovery while trading around 0.9700 during Monday’s Asian session. 21-day EMA and 23.6% Fibonacci retracement of the pair’s declines from November 2019 to the current month low seem to restrict the immediate upside.

In addition to 0.9711 immediate resistance confluence, a downward sloping trend line since January 10, at 0.9720 now, also challenges short-term buyers.

Even if the pair manages to cross 0.9720 barriers, it’s rally isn’t confirmed as 50-day EMA and 38.2% Fibonacci retracement around 0.9770 stands tall to disappoint the bulls.

On the flip side, lows marked on January 01 and 21, around 0.9660, offers the adjacent support to the pair during its further declines.

Additionally, the monthly bottom close to 0.9613 and 0.9600 round-figure could lure the bears after 0.9660.

USD/CHF daily chart

Trend: Bearish

Additional important levels

Overview
Today last price 0.9704
Today Daily Change -8 pips
Today Daily Change % -0.08%
Today daily open 0.9712
 
Trends
Daily SMA20 0.9694
Daily SMA50 0.9802
Daily SMA100 0.9863
Daily SMA200 0.9898
 
Levels
Previous Daily High 0.972
Previous Daily Low 0.9684
Previous Weekly High 0.973
Previous Weekly Low 0.9661
Previous Monthly High 1.0009
Previous Monthly Low 0.9646
Daily Fibonacci 38.2% 0.9706
Daily Fibonacci 61.8% 0.9698
Daily Pivot Point S1 0.9691
Daily Pivot Point S2 0.9669
Daily Pivot Point S3 0.9655
Daily Pivot Point R1 0.9727
Daily Pivot Point R2 0.9741
Daily Pivot Point R3 0.9763

 

 

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