USD/CHF technical analysis: Bearish MACD questions upside beyond 21/200-day EMA


  • USD/CHF trades near the weekly top following a sustained break of the key resistance confluence.
  • 50% Fibonacci retracement, multiple resistance lines on the buyers’ radar.

On early Friday, the USD/CHF pair trades successfully above 21 and 200-day Exponential Moving Average (EMA) confluence while taking the bids to 0.9925.

However, the bearish signal from 12-bar Moving Average Convergence and Divergence (MACD) raises doubts over the pair’s further upside. If not, 50% Fibonacci retracement level of April-August declines, at 0.9950, followed by three-week-old falling trend line, at 0.9965, could keep buyers in check.

Should there be a price rally beyond 0.9965, a downward sloping resistance line since early May month, at 1.0000 round-figure, will be in the spotlight.

Alternatively, pair’s daily closing below 0.9920/15 support-confluence seems to recall 38.2% Fibonacci retracement of 0.9880 and the monthly bottom close to 0.9835.

USD/CHF daily chart

Trend: Recovery likely to stall

additional important levels

Overview
Today last price 0.9926
Today Daily Change 7 pips
Today Daily Change % 0.07%
Today daily open 0.9919
 
Trends
Daily SMA20 0.9935
Daily SMA50 0.9897
Daily SMA100 0.9874
Daily SMA200 0.9956
 
Levels
Previous Daily High 0.993
Previous Daily Low 0.9891
Previous Weekly High 0.9997
Previous Weekly Low 0.9837
Previous Monthly High 0.9988
Previous Monthly Low 0.9797
Daily Fibonacci 38.2% 0.9915
Daily Fibonacci 61.8% 0.9906
Daily Pivot Point S1 0.9897
Daily Pivot Point S2 0.9874
Daily Pivot Point S3 0.9858
Daily Pivot Point R1 0.9936
Daily Pivot Point R2 0.9952
Daily Pivot Point R3 0.9975

 

 

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