USD/CHF technical analysis: 6-week-old resistance-line questions rise towards 1.0040 confluence


  • Nearby resistances-line holds the upside capped ahead of 100-day SMA, 38.2% FIbo. confluence.
  • 200-day SMA seems strong downside support.

USD/CHF’s run up to a fortnight high still needs to cross near-term upside resistances to aim for the key confluence as it trades close to 0.9993 ahead of the Europe markets open on Monday.

A downward sloping trend-line since early-May at 1.0012 holds the gate for the pair’s rally to 1.0040 confluence comprising 100-day simple moving average (SMA) and 38.2% Fibonacci retracement of January to April month upside.

Should prices rally past-1.0040, 50-day SMA level of 1.0073 and the 1.0100 round-figure could lure buyers.

Alternatively, 200-day SMA level of 0.9970 acts as immediate support, a break of which can recall 61.8% Fibonacci retracement, at 0.9915, on the sellers’ radar.

Pair’s further downside below 0.9915 might not refrain from dragging the quote towards 0.9850 support level.

USD/CHF daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 0.9993
Today Daily Change 6 pips
Today Daily Change % 0.06%
Today daily open 0.9987
 
Trends
Daily SMA20 0.9995
Daily SMA50 1.0073
Daily SMA100 1.0038
Daily SMA200 0.9969
Levels
Previous Daily High 0.9996
Previous Daily Low 0.9925
Previous Weekly High 0.9996
Previous Weekly Low 0.9885
Previous Monthly High 1.0227
Previous Monthly Low 1
Daily Fibonacci 38.2% 0.9969
Daily Fibonacci 61.8% 0.9952
Daily Pivot Point S1 0.9943
Daily Pivot Point S2 0.9898
Daily Pivot Point S3 0.9872
Daily Pivot Point R1 1.0014
Daily Pivot Point R2 1.004
Daily Pivot Point R3 1.0085

 

 

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