- 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
|Today last price||0.9993|
|Today Daily Change||6 pips|
|Today Daily Change %||0.06%|
|Today daily open||0.9987|
|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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