• The pair extended last week’s rejection slide from the 1.0100 handle and dropped to fresh one-week lows in the last hour amid a follow-through USD retracement.
• Meanwhile, the attempted intraday bounce failed to sustain above 200-hour SMA and the subsequent slide clearly points to increasing selling pressure at higher levels.
• Technical indicators on hourly charts have been gaining negative momentum and suggest a further decline to over one-month-old ascending trend-channel support.
• However, oscillators on the daily chart have managed to maintain their bullish bias and support prospects for some dip buying interest near the mentioned support.
• Hence, it would be prudent to wait for a convincing break below the channel support before confirming that the pair might have already topped out in the near-term.
USD/CHF 1-hourly chart
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Technical levels to watch
USD/CHF
Overview:
Today Last Price: 1.003
Today Daily change %: -0.19%
Today Daily Open: 1.0049
Trends:
Daily SMA20: 0.9991
Daily SMA50: 0.9927
Daily SMA100: 0.9949
Daily SMA200: 0.9909
Levels:
Previous Daily High: 1.009
Previous Daily Low: 1.0039
Previous Weekly High: 1.01
Previous Weekly Low: 0.9988
Previous Monthly High: 0.9996
Previous Monthly Low: 0.9716
Daily Fibonacci 38.2%: 1.0059
Daily Fibonacci 61.8%: 1.0071
Daily Pivot Point S1: 1.0029
Daily Pivot Point S2: 1.0009
Daily Pivot Point S3: 0.9979
Daily Pivot Point R1: 1.008
Daily Pivot Point R2: 1.011
Daily Pivot Point R3: 1.013
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