USD/CHF Technical Analysis: 0.9990-85 becomes an immediate concern for sellers

USD/CHF trades near 1.0010 during early Friday.
The pair’s failure to surpass a weeklong descending resistance-line favors its drop to 0.9990-85 horizontal-support.
Should sellers refrain to respect the 0.9985 support, 38.2% Fibonacci retracement of its early 2019 upside, at 0.9950, can offer intermediate halt during the slump targeting 0.9905 level comprising 50% Fibonacci.
If at all prices decline past-0.9905, 0.9845 and 0.9800 should become bears’ favorites.
On the contrary, the pair’s ability to cross 1.0020 resistance-line could trigger its pullback towards 1.0040 and 1.0075.
Given the bulls dominate after 1.0075, 1.0100 is a crucial resistance to watch as it holds the gate for the pair’s rise to 61.8% Fibonacci expansion (FE) level of mid-January to February moves, at 1.0120, followed by 1.0150 and 1.0180 levels.

Anil Panchal FXStreet

USD/CHF 4-Hour chart

Additional important levels:

Overview:
    Today Last Price: 1.0014
    Today Daily change: 3 pips
    Today Daily change %: 0.03%
    Today Daily Open: 1.0011
Trends:
    Daily SMA20: 1.0001
    Daily SMA50: 0.9934
    Daily SMA100: 0.9955
    Daily SMA200: 0.991
Levels:
    Previous Daily High: 1.0024
    Previous Daily Low: 0.9994
    Previous Weekly High: 1.01
    Previous Weekly Low: 0.9988
    Previous Monthly High: 0.9996
    Previous Monthly Low: 0.9716
    Daily Fibonacci 38.2%: 1.0013
    Daily Fibonacci 61.8%: 1.0005
    Daily Pivot Point S1: 0.9996
    Daily Pivot Point S2: 0.998
    Daily Pivot Point S3: 0.9966
    Daily Pivot Point R1: 1.0026
    Daily Pivot Point R2: 1.004
    Daily Pivot Point R3: 1.0056

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.

EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.