USD/CHF technical analysis: 61.8% Fibo, 0.9822/17 confluence on sellers’ radar

  • USD/CHF extends declines on the break of one-week-old support-line (now resistance).
  • Sellers look for key technical levels amid bearish signals from MACD.

Following its break of immediate support-line, the USD/CHF pair remains on the back foot while taking rounds to 0.9870 amid Wednesday’s Asian session.

Sellers now aim for 61.8% Fibonacci retracement level of August month downpour, at 0.9854, as immediate support ahead of targeting 0.9822/17 confluence including 200-bar simple moving average (SMA) and 50% Fibonacci retracement level.

In a case prices slip beneath 0.9817, 38.2% Fibonacci retracement of 0.9780 may offer an intermediate halt to the south-run towards three-week-long rising trend-line close to 0.9760.

Adding to the sellers’ favor is a bearish signal from the 12-bar moving average convergence and divergence (MACD) indicator.

Alternatively, Monday’s low near 0.9890 and Tuesday’s top surrounding 0.9930 can offer immediate resistance to the pair, a break of which can escalate the run-up towards August month high surrounding 0.9980.

USD/CHF 4-hour chart

Trend: pullback expected

Additional important levels

Today last price 0.9866
Today Daily Change -1 pip
Today Daily Change % -0.01%
Today daily open 0.9867
Daily SMA20 0.9797
Daily SMA50 0.9834
Daily SMA100 0.9942
Daily SMA200 0.9952
Previous Daily High 0.993
Previous Daily Low 0.9862
Previous Weekly High 0.9919
Previous Weekly Low 0.9714
Previous Monthly High 0.9976
Previous Monthly Low 0.9659
Daily Fibonacci 38.2% 0.9888
Daily Fibonacci 61.8% 0.9904
Daily Pivot Point S1 0.9843
Daily Pivot Point S2 0.9818
Daily Pivot Point S3 0.9775
Daily Pivot Point R1 0.9911
Daily Pivot Point R2 0.9954
Daily Pivot Point R3 0.9979



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