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.

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

 

 

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