USD/CHF technical analysis: Intraday uptick falters just ahead of parity mark


  • Despite the intraday pullback, the pair has managed to hold above 200-DMA.
  • The near-term technical set-up support prospects for some dip-buying interest.

The USD/CHF pair failed to capitalize on its intraday positive move and faced rejection near the key parity mark, albeit has still managed to hold above the very important 200-day SMA.
 
Given the pair's repeated bounce from a support marked by the lower end of a two-month-old ascending trend-channel, the near-term bias remains tilted in favour of bullish traders.
 
Moreover, technical indicators on hourly charts have been losing positive momentum but maintained their bullish bias on the daily chart, supporting prospects for some dip-buying interest.
 
Hence, any meaningful slide might still be seen as an opportunity to initiate some fresh bullish positions near the mentioned trend-channel support, currently near the 0.9935 region.
 
Meanwhile, a sustained strength beyond the parity mark might prompt some technical buying and accelerate the momentum further towards the recent swing highs near the 1.0025-30 region.
 
The pair then could further extend the appreciating move, though is likely to confront stiff resistance near the top end of the mentioned trend-channel, currently near the 1.0100 round-figure mark.
 
On the flip side, a decisive break below the trend-channel support might negate any near-term bullish bias and turn the pair vulnerable to slide further towards the next major support near the 0.9860-55 region.

USD/CHF daily chart

fxsoriginal

USD/CHF

Overview
Today last price 0.9975
Today Daily Change 0.0004
Today Daily Change % 0.04
Today daily open 0.9971
 
Trends
Daily SMA20 0.9941
Daily SMA50 0.9871
Daily SMA100 0.9881
Daily SMA200 0.9954
 
Levels
Previous Daily High 0.9984
Previous Daily Low 0.9943
Previous Weekly High 0.9991
Previous Weekly Low 0.9904
Previous Monthly High 0.9988
Previous Monthly Low 0.9797
Daily Fibonacci 38.2% 0.9959
Daily Fibonacci 61.8% 0.9968
Daily Pivot Point S1 0.9948
Daily Pivot Point S2 0.9925
Daily Pivot Point S3 0.9907
Daily Pivot Point R1 0.9989
Daily Pivot Point R2 1.0007
Daily Pivot Point R3 1.003

 

 

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

Euro rolling into the Asian session near one-month lows

The Fiber, on the daily chart, is trading in a downtrend below its main daily simple moving averages (DMAs). The Fiber was week on the second day of the week. The level to beat for bears is the 1.0995 support level.

EUR/USD News

GBP/USD: Doji on D1, lower highs setup portray Cable weakness

Not only lower highs since late-October but a bearish candlestick formation also portrays the GBP/USD pair’s weakness as it takes rounds to 1.2855 during the early Asian session on Wednesday.

GBP/USD News

USD/JPY supported at 10-DMA amid risk-off, eyes US CPI, Powell

USD/JPY bounced-off the10-DMA support near 108.85 and regained the 109 handle, despite the risk-off action in the Asian equities and US equity futures amid trade deal uncertainty. The bulls seem to have found some support from higher US Treasury yields. 

USD/JPY News

Gold fails to hold on to recovery amid USD strength, trade woes

Although pessimism surrounding the US trade relations with China and the EU, coupled with Hong Kong protests, favored Gold to bounce off multi-month lows on Tue, prices are again under pressure while taking rounds to $1,458 during today’s Asian session.

Gold News

UK inflation report outlook: GBP/USD may stumble on another CPI slide

Headline Consumer Price Index (CPI) has missed expectations in the past two months by standing at 1.7% annual. Economists seem to have adapted their expectations and forecast a further deceleration to 1.6% in October's inflation report. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures