- 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
additional important levels
|Today last price||0.9877|
|Today Daily Change||-4 pips|
|Today Daily Change %||-0.04%|
|Today daily open||0.9881|
|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|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.