USD/CHF technical analysis: 0.9890 is the level to beat for sellers

  • USD/CHF fails to sustain the bounce off key support-confluence including 200-HMA and 38.2% Fibonacci retracement.
  • A downside break highlights the 61.8% Fibonacci retracement level while 200-DMA caps the upside.

Failures to sustain the bounce off 200-hour moving average (HMA) and 38.2% Fibonacci retracement of latest run-up drag the USD/CHF back to the key support-confluence while taking rounds to 0.9900 ahead of Friday’s European open.

Should prices slip below 0.9890 support-joint, 50% Fibonacci retracement around 0.9870 may offer an intermediate halt to its downpour to 61.8% Fibonacci retracement level of 0.9855.

In a case where the quote keeps falling below 0.9855, 0.9820 and 0.9800 appear on the bears’ radar.

Meanwhile, pair’s another pullback can have 0.9915 as immediate resistance ahead of confronting 200-day simple moving average (DMA) level of 0.9950 on the daily chart.

Even if the 200-DMA has been restricting the pair’s upside since 12-weeks, a sustained break of which could easily fuel prices to 1.0000 round-figure.

USD/CHF hourly chart

Trend: sideways

additional important levels

Today last price 0.9897
Today Daily Change -6
Today Daily Change % -0.06%
Today daily open 0.9903
Daily SMA20 0.9848
Daily SMA50 0.9843
Daily SMA100 0.9922
Daily SMA200 0.9949
Previous Daily High 0.9947
Previous Daily Low 0.988
Previous Weekly High 0.993
Previous Weekly Low 0.9797
Previous Monthly High 0.9976
Previous Monthly Low 0.9659
Daily Fibonacci 38.2% 0.9906
Daily Fibonacci 61.8% 0.9921
Daily Pivot Point S1 0.9873
Daily Pivot Point S2 0.9843
Daily Pivot Point S3 0.9806
Daily Pivot Point R1 0.994
Daily Pivot Point R2 0.9977
Daily Pivot Point R3 1.0007



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