USD/CHF technical analysis: 50-day SMA limits immediate upside amid bearish MACD

  • USD/CHF struggles around 38.2% Fibonacci retracement after declining to a three-week low.
  • Bearish MACD favors further downpour to 0.9800/9795 support-zone.

With its sustained trading below 50-day SMA, coupled with the bearish MACD, USD/CHF stays on the sellers’ radar even if it clings to 0.9880 during early Friday.

The September 24 low nearing 0.9840 acts as immediate support for the pair while the previous month low and 23.6% Fibonacci retracement of April-August south-run, close to 0.9800/9795 support-zone, could restrict further downside.

During the pair’s further weakness below 0.9795, 0.9715 and 0.9690 will become bears’ favorites.

Should traders ignore a bearish signal from the 12-bar Moving Average Convergence and Divergence (MACD), they need to provide a daily closing beyond 50-day Simple Moving Average (SMA) surrounding 0.9885 to aim for last week's low near 0.9905.

However, odds of short-term weakness can’t be defied unless the pair rises back beyond 0.9947/50 confluence including a two-month-old rising trend line and 50% Fibonacci retracement.

USD/CHF daily chart

Trend: bearish

additional important levels

Today last price 0.9877
Today Daily Change -4 pips
Today Daily Change % -0.04%
Today daily open 0.9881
Daily SMA20 0.9941
Daily SMA50 0.9882
Daily SMA100 0.9877
Daily SMA200 0.9956
Previous Daily High 0.9959
Previous Daily Low 0.9866
Previous Weekly High 0.9991
Previous Weekly Low 0.9904
Previous Monthly High 0.9988
Previous Monthly Low 0.9797
Daily Fibonacci 38.2% 0.9902
Daily Fibonacci 61.8% 0.9923
Daily Pivot Point S1 0.9845
Daily Pivot Point S2 0.9809
Daily Pivot Point S3 0.9752
Daily Pivot Point R1 0.9938
Daily Pivot Point R2 0.9995
Daily Pivot Point R3 1.0031



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