USD/CHF Technical Analysis: 38.2% Fibonacci, 200-DMA doubt pullback from monthly low


  • USD/CHF recovers from four weeks’ low.
  • 50% Fibonacci retracement level, October bottom restrict further downside.
  • 200-DMA breakout will again highlight 1.0000 psychological magnet.

USD/CHF seesaws around 0.9873 while heading into the European session on Wednesday. The quote dropped to the lowest since early November on Tuesday but pulls back off-late.

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.

If at all bulls manage to cross 200-DMA, 0.9980 and 1.0000 could regain market attention.

On the downside, 50% Fibonacci retracement and October month trough surrounding 0.9845/37 could keep the short-term declines limited.

However, a sustained downpour beneath 0.9837 might not refrain from challenging 61.8% Fibonacci retracement level of 0.9800.

USD/CHF daily chart

Trend: Recovery anticipated

additional important levels

Overview
Today last price 0.9873
Today Daily Change 0.0000
Today Daily Change % 0.00%
Today daily open 0.9873
 
Trends
Daily SMA20 0.9935
Daily SMA50 0.993
Daily SMA100 0.9888
Daily SMA200 0.9947
 
Levels
Previous Daily High 0.9927
Previous Daily Low 0.9857
Previous Weekly High 1.0024
Previous Weekly Low 0.9954
Previous Monthly High 1.0024
Previous Monthly Low 0.985
Daily Fibonacci 38.2% 0.9884
Daily Fibonacci 61.8% 0.99
Daily Pivot Point S1 0.9844
Daily Pivot Point S2 0.9816
Daily Pivot Point S3 0.9774
Daily Pivot Point R1 0.9914
Daily Pivot Point R2 0.9956
Daily Pivot Point R3 0.9984

 

 

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