USD/CHF Price Analysis: Wednesday’s hanging man, monthly resistance line highlight 0.9100 for bears

USD/CHF directs the previous day’s failure to cross 0.9150 towards 0.9100 round-figure.
50-day SMA, 61.8% Fibonacci retracement offer immediate supports amid bearish MACD.
Bulls can target 0.9200 after the trendline break.

Anil Panchal FXStreet

USD/CHF drops to 0.9131, down 0.05%, while heading into the European session on Thursday. In doing so, the pair respects the previous day’s pullback from a falling trend line stretched from September 28. Additionally, bearish MACD and Wednesday’s hanging man candlestick offer extra support to the pair sellers.

As a result, the immediate support of 50-day SMA, near 0.9130, followed by 61.8% Fibonacci retracement of September month’s upside, near 0.9110, may fail to stop the USD/CHF bears before offering them the 0.9100 thresholds.

Though, the monthly low of 0.9087 and the September 10 bottom around 0.9050 can surely challenge the quote’s further selling towards the prior month’s low of 0.8998.

On the upside, a clear break of the mentioned trend line, at 0.9140 now, will trigger a fresh run-up towards the previous week’s peak near 0.9200 However, the monthly high near 0.9220 and 0.9245 can probe USD/CHF upside then after.

During the quote’s sustained rise past-0.9245, September 25 peak close to 0.9300 will lure the buyers.

USD/CHF daily chart

Trend: Bearish

Additional important levels

Overview
Today last price	0.9132
Today Daily Change	-4 pips
Today Daily Change %	-0.04%
Today daily open	0.9136

Trends
Daily SMA20	0.9177
Daily SMA50	0.9133
Daily SMA100	0.9274
Daily SMA200	0.948

Levels
Previous Daily High	0.9163
Previous Daily Low	0.9114
Previous Weekly High	0.9203
Previous Weekly Low	0.9093
Previous Monthly High	0.9296
Previous Monthly Low	0.8999
Daily Fibonacci 38.2%	0.9132
Daily Fibonacci 61.8%	0.9144
Daily Pivot Point S1	0.9112
Daily Pivot Point S2	0.9088
Daily Pivot Point S3	0.9063
Daily Pivot Point R1	0.9162
Daily Pivot Point R2	0.9187
Daily Pivot Point R3	0.9211

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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