USD/CHF technical analysis: Clings to 23.6% Fibo, eyes on Swiss ZEW and Fed


  • USD/CHF stays above 21-day EMA amid bullish MACD.
  • A daily closing beyond the monthly trendline will trigger fresh upside.

Given the monthly falling resistance line and 21-day EMA confusing USD/CHF traders on a key day, the quote seesaws near 0.9940 during pre-European session on Wednesday.

Adding to the odds of pair’s run-up are bullish signals from the 12-bar Moving Average Convergence and Divergence (MACD) indicator. However, buyers need a sustained break above a descending trend line since October 03, at 0.9960, to take aim at 1.000 round-figure.

Meanwhile, pair’s declines below 21-day Exponential Moving Average (EMA) highlights the importance of 38.2% and 50% Fibonacci retracement levels of August-October upside, at 0.9885 and 0.9845 respectively.

Other than technical catalysts, traders will also be on the lookout for Swiss ZEW Expectations for October, forecast -6.8 versus -15.4, while the United States (US) Federal Reserve’s interest rate decision will also be the key to follow.

USD/CHF daily chart

Trend: sideways

additional important levels

Overview
Today last price 0.9938
Today Daily Change -2 pips
Today Daily Change % -0.02%
Today daily open 0.994
 
Trends
Daily SMA20 0.9936
Daily SMA50 0.9906
Daily SMA100 0.9875
Daily SMA200 0.9956
 
Levels
Previous Daily High 0.9966
Previous Daily Low 0.9933
Previous Weekly High 0.9956
Previous Weekly Low 0.9841
Previous Monthly High 0.9988
Previous Monthly Low 0.9797
Daily Fibonacci 38.2% 0.9946
Daily Fibonacci 61.8% 0.9953
Daily Pivot Point S1 0.9927
Daily Pivot Point S2 0.9913
Daily Pivot Point S3 0.9894
Daily Pivot Point R1 0.996
Daily Pivot Point R2 0.9979
Daily Pivot Point R3 0.9993

 

 

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