USD/CHF technical analysis: Bullish exhaustion around 2-day-old support-line

USD/CHF seems to lose upside strength.
Bearish MACD portrays the momentum weakness above 61.8% Fibonacci retracement and two-day-old rising trend-line.

Anil Panchal FXStreet

USD/CHF has been under pressure off-late while taking rounds to 0.9940 ahead of the European session on Friday.

The pair stays above two-day-old rising trend-line and 61.8% Fibonacci retracement but fails to rise above 0.9950. Also portraying the pair’s weakness is a bearish signal by the 12-bar moving average convergence and divergence (MACD) indicator.

As a result, chances of the pair’s drop to 200-hour exponential moving average (EMA) level of 0.9910 seem brighter once prices drop below 0.9930 support-line.

On the contrary, an upside clearance of 0.9950 enables buyers to challenge 0.9985 while also expecting 1.0000 during further advances.

USD/CHF hourly chart

Trend: pullback expected

additional important levels

Overview
Today last price	0.9939
Today Daily Change	3 pips
Today Daily Change %	0.03%
Today daily open	0.9936

Trends
Daily SMA20	0.9903
Daily SMA50	0.9849
Daily SMA100	0.9895
Daily SMA200	0.9949

Levels
Previous Daily High	0.9949
Previous Daily Low	0.9905
Previous Weekly High	0.9984
Previous Weekly Low	0.9864
Previous Monthly High	0.9976
Previous Monthly Low	0.9659
Daily Fibonacci 38.2%	0.9932
Daily Fibonacci 61.8%	0.9922
Daily Pivot Point S1	0.9911
Daily Pivot Point S2	0.9886
Daily Pivot Point S3	0.9867
Daily Pivot Point R1	0.9955
Daily Pivot Point R2	0.9974
Daily Pivot Point R3	0.9999

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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