USD/CHF Technical Analysis: 100-day SMA becomes a tough nut to crack for sellers


  • USD/CHF takes another U-turn from 100-day SMA, takes the bids above 38.2% Fibonacci retracement.
  • 61.8% Fibonacci retracement acts as the key support while 200-day SMA holds the pair’s recovery confined.

Following its bounce off 100-day SMA, USD/CHF rises past-38.2% Fibonacci retracement of August-October upside while taking the bids to 0.9900 by the press time ahead of the European session on Monday.

Considering the pair’s recent recovery from near-term strong support, prices could revisit 0.9925/30 resistance area ahead of confronting 23.6% Fibonacci retracement level near 0.9942. However, 200-day Simple Moving Average (SMA) level of 0.9952 continues to act as strong upside barrier.

Should there be a clear run-up beyond 0.9952, the monthly top surrounding 0.9980 and 1.0000 could act as buffers prior to fueling the quote towards October month high close to 1.0030.

Meanwhile, pair’s daily closing below 100-day SMA level of 0.9880 can fetch it towards the previous month's bottom nearing 0.9835.

Though, 61.8% Fibonacci retracement and September month lows near 0.9800 could please sellers bears afterward.

USD/CHF daily chart

Trend: Recovery expected

additional important levels

Overview
Today last price 0.99
Today Daily Change 3 pips
Today Daily Change % 0.03%
Today daily open 0.9897
 
Trends
Daily SMA20 0.9911
Daily SMA50 0.9924
Daily SMA100 0.9881
Daily SMA200 0.9952
 
Levels
Previous Daily High 0.9912
Previous Daily Low 0.9873
Previous Weekly High 0.9978
Previous Weekly Low 0.9869
Previous Monthly High 1.0028
Previous Monthly Low 0.9837
Daily Fibonacci 38.2% 0.9897
Daily Fibonacci 61.8% 0.9888
Daily Pivot Point S1 0.9876
Daily Pivot Point S2 0.9855
Daily Pivot Point S3 0.9837
Daily Pivot Point R1 0.9915
Daily Pivot Point R2 0.9933
Daily Pivot Point R3 0.9954

 

 

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