USD/CHF technical analysis: Downside limited by nearby rising trendline, 0.9937/35 confluence

USD/CHF seesaws around 23.6% Fibonacci retracement after witnessing multiple failures to cross 1.0030.
A nine-day-old rising trend-line, followed by a confluence of 200-HMA/50% Fibonacci retracement limits near-term declines.

Anil Panchal FXStreet

Despite witnessing pullbacks from 1.0030, USD/CHF is yet to slip beneath key supports as it clings to 0.9985 during early Friday.

The pair seesaws near 23.6% Fibonacci retracement of its upswing from last Tuesday and can revisit 38.2% Fibonacci retracement level surrounding 0.9960 during further declines.

However, an upward sloping trend-line since September 24, at 0.9950, followed by a 200-hour simple moving average (HMA) and 50% Fibonacci retracement, near 0.9937/35, could question pair’s further south-run.

Should there be increased downside pressure below 0.9935, September 27 low close to 0.9900 will be sellers’ choice.

Meanwhile, pair’s successful rise above 1.0030 could propel it to the late-May top adjacent to 1.0100.

USD/CHF hourly chart

Trend: bullish

additional important levels

Overview
Today last price	0.9984
Today Daily Change	-4 pips
Today Daily Change %	-0.04%
Today daily open	0.9988

Trends
Daily SMA20	0.9925
Daily SMA50	0.986
Daily SMA100	0.9889
Daily SMA200	0.995

Levels
Previous Daily High	1.0028
Previous Daily Low	0.9952
Previous Weekly High	0.995
Previous Weekly Low	0.9843
Previous Monthly High	0.9988
Previous Monthly Low	0.9797
Daily Fibonacci 38.2%	0.9999
Daily Fibonacci 61.8%	0.9981
Daily Pivot Point S1	0.9951
Daily Pivot Point S2	0.9914
Daily Pivot Point S3	0.9875
Daily Pivot Point R1	1.0027
Daily Pivot Point R2	1.0065
Daily Pivot Point R3	1.0102

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.

EUR/USD tests nine-day EMA support near 1.1850

EUR/USD inches lower during the Asian hours on Monday, trading around 1.1870 at the time of writing. The 14-day Relative Strength Index momentum indicator at 56 stays above the midline, confirming improving momentum. RSI has cooled from prior overbought readings but stabilizes above 50, suggesting dips could stay limited before buyers reassert control.

GBP/USD flat lines as traders await key UK macro data and FOMC minutes

The GBP/USD pair kicks off a new week on a subdued note and oscillates in a narrow range, just below mid-1.3600s, during the Asian session. Moreover, the mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold slides below $5,000 amid USD uptick and positive risk tone; downside seems limited

Gold attracts fresh sellers at the start of a new week and reverses a part of Friday's strong move up of over $150 from sub-$4,900 levels. The commodity slides back below the $5,000 psychological mark during the Asian session, though the downside potential seems limited amid a combination of supporting factors.

Bitcoin, Ethereum and Ripple consolidate within key ranges as selling pressure eases

Bitcoin and Ethereum prices have been trading sideways within key ranges following the massive correction. Meanwhile, XRP recovers slightly, breaking above the key resistance zone. The top three cryptocurrencies hint at a potential short-term recovery, with momentum indicators showing fading bearish signs.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.