- Continued with its struggle to extend the momentum beyond the parity mark.
- Despite the intraday pullback, the pair has managed to hold above 200-DMA.
The USD/CHF pair continued with its struggle to make it through the parity mark and witnessed a modest pullback on Wednesday, albeit held above the very important 200-day SMA.
Given the pair's repeated bounce from a support marked by the lower end of a two-month-old ascending trend-channel, the near-term bias remains tilted in favour of bullish traders.
Moreover, oscillators maintained the bullish territory 4-hourly/daily charts and support prospects for some dip-buying interest near the trend-channel support – around the 0.9940 region.
However, traders are likely to wait for a sustained move beyond the 1.10 handle before positioning for any further appreciating move back towards the recent swing highs near the 1.0025-30 region.
The pair could then extend the momentum further, though is likely to confront stiff resistance near the top end of the mentioned trend-channel, currently near the 1.0100 round-figure mark.
Conversely, a decisive break below the trend-channel support might turn the pair vulnerable to break below the 0.9900 handle and aim towards testing the 0.9860-55 support area.
USD/CHF daily chart
|Today last price||0.9977|
|Today Daily Change||-0.0009|
|Today Daily Change %||-0.09|
|Today daily open||0.9986|
|Previous Daily High||0.9997|
|Previous Daily Low||0.9962|
|Previous Weekly High||0.9991|
|Previous Weekly Low||0.9904|
|Previous Monthly High||0.9988|
|Previous Monthly Low||0.9797|
|Daily Fibonacci 38.2%||0.9984|
|Daily Fibonacci 61.8%||0.9975|
|Daily Pivot Point S1||0.9966|
|Daily Pivot Point S2||0.9947|
|Daily Pivot Point S3||0.9931|
|Daily Pivot Point R1||1.0001|
|Daily Pivot Point R2||1.0017|
|Daily Pivot Point R3||1.0036|
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.