USD/CHF Technical Analysis: Immediate support trendline, 200-day SMA limit nearby declines


  • USD/CHF pulls back from six week high.
  • Falling trend line since early October, 200-day SMA keeps buyers hopeful.
  • An upside beyond mid-October high could escalate pair’s run-up towards the previous month high.

USD/CHF fails to hold the recent trend line breakout while declining to 0.9970 during early Monday.

Even so, the quote stays beyond a multi-week-old falling support-line, at 0.9960, while also trading above 200-day Simple Moving Average (SMA) level of 0.9948.

As a result, buyers can still wait for an upside break of 1.0000 mark before liquidating their longs. In that case, October month high around 1.0030 and late-May top near 1.0100 will be on their radars.

On the downside, pair’s declines below 200-day SMA level of 0.9948 will target 0.9900 round-figure whereas a confluence of 100-day SMA and 38.2% Fibonacci retracement of August-October upside, around 0.9987/83, could keep further declines limited.

If bears dominate below 0.9983, an upward sloping trend line since October 18, at 0.9875 will be the key as a break of which could recall the previous month low near 0.9835 to the charts.

USD/CHF daily chart

Trend: Pullback

additional important levels

Overview
Today last price 0.9966
Today Daily Change -8 pips
Today Daily Change % -0.08%
Today daily open 0.9974
 
Trends
Daily SMA20 0.9915
Daily SMA50 0.9925
Daily SMA100 0.9884
Daily SMA200 0.9949
 
Levels
Previous Daily High 0.9981
Previous Daily Low 0.9926
Previous Weekly High 0.9981
Previous Weekly Low 0.9868
Previous Monthly High 1.0028
Previous Monthly Low 0.9837
Daily Fibonacci 38.2% 0.996
Daily Fibonacci 61.8% 0.9947
Daily Pivot Point S1 0.994
Daily Pivot Point S2 0.9905
Daily Pivot Point S3 0.9885
Daily Pivot Point R1 0.9995
Daily Pivot Point R2 1.0015
Daily Pivot Point R3 1.005

 

 

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