- 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|
|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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