USD/CHF Price Analysis: Yearly trendline, 61.8% Fibonacci on the bears’ radar


  • USD/CHF trades near the multi-month low marked Wednesday.
  • 38.2% Fibonacci retracement, 200-week SMA keep the pair’s upside limited.
  • September 2018 low may return to the chart during heavy declines.

USD/CHF takes rounds to 0.9645 while heading into the European session on Thursday. The pair witnesses pullback from the lowest since September 2018, tested the previous day.

Bears are in control while targeting a downward sloping trend line plotted from January 2019, at 0.9615, as well as 61.8% Fibonacci retracement of 2018-19 upside move, near 0.9585.

Given the sellers’ failure to respect the key Fibonacci support, September 2018 bottom surrounding 0.9540 grabs the spotlight.

Alternatively, 0.9765 can act as an immediate upside barrier ahead of the 200-week SMA and 38.2% Fibonacci retracement around 0.9835/45 region.

USD/CHF weekly chart

Trend: Bearish

Additional important levels

Overview
Today last price 0.9645
Today Daily Change 8 pips
Today Daily Change % 0.08%
Today daily open 0.9637
 
Trends
Daily SMA20 0.9734
Daily SMA50 0.9835
Daily SMA100 0.9876
Daily SMA200 0.9912
 
Levels
Previous Daily High 0.9681
Previous Daily Low 0.963
Previous Weekly High 0.9763
Previous Weekly Low 0.9665
Previous Monthly High 1.0009
Previous Monthly Low 0.9646
Daily Fibonacci 38.2% 0.9649
Daily Fibonacci 61.8% 0.9662
Daily Pivot Point S1 0.9618
Daily Pivot Point S2 0.9598
Daily Pivot Point S3 0.9567
Daily Pivot Point R1 0.9669
Daily Pivot Point R2 0.97
Daily Pivot Point R3 0.972

 

 

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