USD/CHF Technical Analysis: Eyes on short-term rising trendline after US strikes in Baghdad

USD/CHF drops after the news broke that the key members of Iran have been killed in by the US attack near Baghdad airport.
200-hour EMA, resistance line of immediate rising channel guard adjacent upside.
December month low adds to the support.

Anil Panchal FXStreet

USD/CHF declines to 0.9700 during the early Friday’s trading. The quote recently slipped as the Swiss Franc (CHF) strengthened, due to its safe-haven appeal, after the US-Middle East tensions are about to get worst.

Read: US officials confirm responsibility for missile attack at Baghdad airport, killing Qassim Soleimani

The pair now seems to decline to the support line of the short-term rising channel, at 0.9685, a break of which could extend the fall to December month’s low near 0.9645.

It should, however, be noted that the pair’s downside below 0.9645, can push the Bears towards late-September 2018 top near 0.9620 ahead of highlighting the September 2018 low around 0.9540.

Meanwhile, 200-hour EMA and channel’s resistance can cap the pair’s near-term upside around 0.9735/40.

USD/CHF hourly chart

Trend: Bearish

Additional important levels

Overview
Today last price	0.9702
Today Daily Change	-12 pips
Today Daily Change %	-0.12%
Today daily open	0.9714

Trends
Daily SMA20	0.9795
Daily SMA50	0.9872
Daily SMA100	0.9885
Daily SMA200	0.9925

Levels
Previous Daily High	0.9734
Previous Daily Low	0.9668
Previous Weekly High	0.9832
Previous Weekly Low	0.9729
Previous Monthly High	1.0009
Previous Monthly Low	0.9646
Daily Fibonacci 38.2%	0.9709
Daily Fibonacci 61.8%	0.9693
Daily Pivot Point S1	0.9677
Daily Pivot Point S2	0.9639
Daily Pivot Point S3	0.9611
Daily Pivot Point R1	0.9743
Daily Pivot Point R2	0.9772
Daily Pivot Point R3	0.9809

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.

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