USD/CHF technical analysis: Firm upside momentum towards 21-DMA amid bullish MACD


  • USD/CHF again confronts 23.6% Fibonacci retracement, while aiming 21-DMA, with the bullish MACD.
  • 50-DMA and 38.2% Fibonacci retracement can please buyers before three-month-old resistance-line comes into play.

Although 23.6% Fibonacci retracement of April-August downpour has repeatedly questioned USD/CHF upside, bullish MACD increases the odds for the pair’s breakout as it takes the rounds to 0.9796 heading into the European session open on Monday.

In doing to 21-day simple moving average (DMA) at 0.9815, followed by 50-DMA level of 0.9846, will become buyers’ next targets. However, 38.2% Fibonacci retracement level of 0.9880 and a downward sloping trend-line since early-May, at 0.9930, could challenge bulls then after.

Should traders ignore bullish signal by 12-bar moving average convergence and divergence (MACD) indicator, 0.9770 and 0.9715 hold the keys for the pair’s drop to 0.9660.

Additionally, pair’s extended south-run beneath 0.9660 might not hesitate to call 0.9600 back to the chart.

USD/CHF daily chart

Trend: On the recovery mode

Additional important levels

Overview
Today last price 0.9795
Today Daily Change 11 pips
Today Daily Change % 0.11%
Today daily open 0.9784
 
Trends
Daily SMA20 0.9815
Daily SMA50 0.9848
Daily SMA100 0.9963
Daily SMA200 0.9962
Levels
Previous Daily High 0.981
Previous Daily Low 0.9758
Previous Weekly High 0.981
Previous Weekly Low 0.9659
Previous Monthly High 0.9952
Previous Monthly Low 0.978
Daily Fibonacci 38.2% 0.979
Daily Fibonacci 61.8% 0.9778
Daily Pivot Point S1 0.9758
Daily Pivot Point S2 0.9731
Daily Pivot Point S3 0.9705
Daily Pivot Point R1 0.981
Daily Pivot Point R2 0.9836
Daily Pivot Point R3 0.9863

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD tumbles below 1.10 amid weak German PMIs

EUR/USD has dropped sharply below 1.10 after German Manufacturing PMI dropped to 41.4 and other figures are disappointed. Fears of a recession are mounting. ECB's Draghi speaks later.

EUR/USD News

GBP/USD trades below 1.25 as markets await a Brexit breakthrough

GBP/USD is trading below 1.25, little changed. PM Johnson has expressed optimism ahead of meetings with EU leaders in New York. The opposition Labour Party's is trying to iron out its position on Brexit. 

GBP/USD News

USD/JPY: Bulls reasurting themselves amid improved trade sentiment

USD/JPY holds firmer starting out the week, as the optimistic sentiment for trade talks remains on track. However, the further upside remains capped by falling Treasury yields-led broad USD weakness.

USD/JPY News

Gold climbs to over 1-week tops, around $1520 region

Gold edged higher through the early European session on Monday and is currently placed at over one-week tops, around the $1520 region.

Gold News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Bakkt to the Future

Today is the day – the release of futures on Bitcoin by ICE – owner among others by the all-powerful NYSE. This initiative, channeled through the trading platform Bakkt, will allow trading futures on Bitcoin with delivery to maturity.

Read more

Forex MAJORS

Cryptocurrencies

Signatures