USD/CHF technical analysis: Holds steady above 200-DMA, poised to reclaim parity mark


  • Bulls managed to defend ascending trend-channel support on Thursday.
  • Acceptance above 200-day SMA support prospects for additional gains.

The USD/CHF pair on Thursday staged a goodish bounce from a support marked by the lower end of a two-month-old ascending trend-channel on the back of positive trade-related headlines.
 
The pair posted modest gains for the second consecutive session and held steady near weekly tops, around the 0.9965-70 region through the Asian session on the last trading day of the week.
 
The fact that the pair has now found acceptance above the very important 200-day SMA support prospects for a further near-term appreciating move amid fading safe-haven demand.
 
This coupled with bullish technical indicators on hourly/daily charts further reinforce the constructive outlook and sets the stage for a move back towards reclaiming the parity mark.
 
The momentum could further get extended towards the recent swing highs, around the 1.0025-30 supply zone, en-route the trend-channel resistance, near the 1.0095-1.0100 region.
 
On the flip side, the trend-channel support, currently near the 0.9930-25 region, might continue to protect the immediate downside, which if broken might negate the near-term bullish bias.
 
Below the mentioned support, the pair is likely to accelerate the slide further below the 0.9900 round-figure mark towards testing its next major support near the 0.9855-50 horizontal zone.

USD/CHF daily chart

fxsoriginal

USD/CHF

Overview
Today last price 0.9968
Today Daily Change 0.0000
Today Daily Change % 0.00
Today daily open 0.9968
 
Trends
Daily SMA20 0.9936
Daily SMA50 0.9864
Daily SMA100 0.9882
Daily SMA200 0.9953
 
Levels
Previous Daily High 0.9975
Previous Daily Low 0.9914
Previous Weekly High 1.0028
Previous Weekly Low 0.9904
Previous Monthly High 0.9988
Previous Monthly Low 0.9797
Daily Fibonacci 38.2% 0.9952
Daily Fibonacci 61.8% 0.9937
Daily Pivot Point S1 0.993
Daily Pivot Point S2 0.9892
Daily Pivot Point S3 0.9869
Daily Pivot Point R1 0.999
Daily Pivot Point R2 1.0013
Daily Pivot Point R3 1.0051

 

 

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