USD/CHF technical analysis: 0.9900/10 challenges recovery from 61.8% Fibo.

Anil Panchal FXStreet

USD/CHF bounces off from a multi-week low.

38.2% Fibonacci retracement, late-September bottoms can question the recent upside.

The USD/CHF pair’s latest recovery is less likely to prevail for long unless clearing near-term key resistance area. The quote seesaws around 0.9860 by the press time of the pre-European session on Monday.

While 50% Fibonacci retracement of late-August to the early-October upside, at 0.9870, can act as an immediate upside barrier, 0.9900/10 supply-zone comprising late-September lows and 38.2% Fibonacci retracement will become a tough nut to crack for buyers.

On the break of 0.9910, 0.9960 and 1.0000 will regain market attention.

Alternatively, pair’s declines below 61.8% Fibonacci retracement near 0.9830 will fetch prices to September month low nearing 0.9800 whereas 0.9770 and late-August bottom nearing 0.9715 could flash on bears’ radar afterward.

USD/CHF 4-hour chart

Trend: bearish

additional important levels

Overview
Today last price	0.986
Today Daily Change	17 pips
Today Daily Change %	0.17%
Today daily open	0.9843

Trends
Daily SMA20	0.9937
Daily SMA50	0.9885
Daily SMA100	0.9875
Daily SMA200	0.9956

Levels
Previous Daily High	0.9892
Previous Daily Low	0.9837
Previous Weekly High	0.9997
Previous Weekly Low	0.9837
Previous Monthly High	0.9988
Previous Monthly Low	0.9797
Daily Fibonacci 38.2%	0.9858
Daily Fibonacci 61.8%	0.9871
Daily Pivot Point S1	0.9822
Daily Pivot Point S2	0.9802
Daily Pivot Point S3	0.9767
Daily Pivot Point R1	0.9878
Daily Pivot Point R2	0.9913
Daily Pivot Point R3	0.9934

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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