- The USD/CHF pair struggled to sustain above 61.8% Fibo. level of the 0.9879-0.9714 recent slump and seems to have stalled this week's recovery move from the 0.9700 neighbourhood.
- The intraday downtick remained cushioned near the 0.9800 handle, which coincides with 100/200-hour SMA confluence region and should act as a key pivotal point for intraday traders.
Meanwhile, neutral technical indicators on hourly/daily charts haven’t been supportive of any firm near-term direction and thus, warrant some caution before placing any aggressive bets for the pair’s near-term trajectory.
A decisive breakthrough the 0.9800-0.9795 region – also nearing 50% Fibo. level – might prompt some technical selling and turn the pair vulnerable to accelerate the slide further towards 23.6% Fibo. level support near mid-0.9700s.
On the flip side, sustained move beyond the overnight swing high – around the 0.9835-40 region – will set the stage for a further near-term appreciating move towards reclaiming the 0.9900 handle en-route the 0.9975-80 region – three-week tops set last Friday.
USD/CHF 1-hourly chart
|Today last price||0.9812|
|Today Daily Change||-0.0001|
|Today Daily Change %||-0.01|
|Today daily open||0.9813|
|Previous Daily High||0.9837|
|Previous Daily Low||0.9775|
|Previous Weekly High||0.9879|
|Previous Weekly Low||0.9735|
|Previous Monthly High||0.9952|
|Previous Monthly Low||0.978|
|Daily Fibonacci 38.2%||0.9814|
|Daily Fibonacci 61.8%||0.9799|
|Daily Pivot Point S1||0.978|
|Daily Pivot Point S2||0.9746|
|Daily Pivot Point S3||0.9717|
|Daily Pivot Point R1||0.9842|
|Daily Pivot Point R2||0.9871|
|Daily Pivot Point R3||0.9904|
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