USD/CHF Technical Analysis: 38.2% Fibonacci, 200-DMA doubt pullback from monthly low
USD/CHF seesaws around 0.9873 while heading into the European session on Wednesday. The price dropped to the lowest since early November on Tuesday but has recently pulled back.
The pair’s refrain to drop further below the latest bottom seems to prepare for a confrontation to 38.2% Fibonacci retracement of August-October rise, near 0.9890. Though, 200-Day Simple Moving Average (DMA), at 0.9920 now, seems to restrict the quote’s advances afterward. Read more…
USD/CHF drops to over 1-month lows, around mid-0.9800s
USD/CHF witnessed some follow-through selling for the third consecutive session on Wednesday and dropped to over one-month lows, around mid-0.9800s in the last hour.
The pair extended this week's rejection slide from the key parity mark and continued losing ground through the early European session on Wednesday. Persistent trade uncertainty continued underpinning the Swiss franc's perceived safe-haven status and kept exerting downward pressure on the major. Read more...
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