USD/CHF technical analysis: Bulls await a sustained move beyond parity mark


  • 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

fxsoriginal

USD/CHF

Overview
Today last price 0.9977
Today Daily Change -0.0009
Today Daily Change % -0.09
Today daily open 0.9986
 
Trends
Daily SMA20 0.9944
Daily SMA50 0.9876
Daily SMA100 0.988
Daily SMA200 0.9955
 
Levels
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

 

 

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