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

 

 

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