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

Today last price 0.9926
Today Daily Change 7 pips
Today Daily Change % 0.07%
Today daily open 0.9919
Daily SMA20 0.9935
Daily SMA50 0.9897
Daily SMA100 0.9874
Daily SMA200 0.9956
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



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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

EUR/USD tops 1.12 amid risk-on mood, ahead of data

EUR/USD is trading around 1.12, the highest since March. The safe-haven dollar is weakening amid optimism for reopening and stimulus, shrugging off civil unrest. EZ Services PMIs beat estimates. ADP's jobs report is eyed.


GBP/USD retraces gains under 1.2600, Brexit, US data eyed

GBP/USD consolidates the latest gains just around 1.26 amid dollar weakness. The Brexit impasse continues despite hopes for mutual concessions. Markit's Final Services PMI beat expectations with 29 points, still reflecting deep contraction.


Crypto market stays strong despite yesterday's sell-off

Once the storm has passed, the real effects are zero at the technical analysis level. The impact on sentiment has been great and returns the market to a neutral level. The market is still in a phase of accumulation, according to a well-known quantitative analyst.

Read more

WTI: Aims to fill the early-March gap above $41.00

WTI eases from a three-month high of $37.17 at the end of the four-day winning streak. The energy benchmark paid a little heed to the price-positive weekly inventory data from the American Petroleum Institute (API).

Oil News

Gold: Prints rounding top on 4-hour chart above $1,700

Gold stays mildly offered after stepping back from $1,745. Considering the bullion’s moderate pullback since the week’s start, a potential rounding top bearish formation appears on the 4-hour chart. An ascending trend line from April 21 is on the bears’ radars.

Gold News