USD/CHF Technical Analysis: Now seems poised to extend the momentum towards 1.0050 level

Haresh Menghani FXStreet

• The pair seemed struggling to capitalize/build on the recent positive momentum further beyond the parity mark, but has already found acceptance above 38.2% Fibo. level of the 1.0124-0.9895 recent downfall.

• Moreover, the fact that the pair is holding comfortably above intraday moving averages - 50, 100 & 200-hour SMAs, and the occurrence of a golden cross on the 1-hourly chart support prospects for further gains.

• Hence, any meaningful dips below an intraday ascending trend-line support, towards 0.9970 horizontal zone - also coinciding with 50-hour SMA, might still be looked upon as a buying opportunity.

• Meanwhile, a sustained move beyond the parity mark is likely to accelerate the up-move towards the 1.0020 supply zone before the pair eventually aims to test the next major hurdle near the 1.0050 region.

USD/CHF 1-hourly chart

USD/CHF

Overview
Today last price	0.999
Today Daily Change	0.0004
Today Daily Change %	0.04
Today daily open	0.9986

Trends
Daily SMA20	1.0004
Daily SMA50	0.9999
Daily SMA100	0.996
Daily SMA200	0.9923

Levels
Previous Daily High	0.9996
Previous Daily Low	0.9932
Previous Weekly High	0.9975
Previous Weekly Low	0.9905
Previous Monthly High	1.0125
Previous Monthly Low	0.9894
Daily Fibonacci 38.2%	0.9971
Daily Fibonacci 61.8%	0.9956
Daily Pivot Point S1	0.9946
Daily Pivot Point S2	0.9907
Daily Pivot Point S3	0.9882
Daily Pivot Point R1	1.0011
Daily Pivot Point R2	1.0036
Daily Pivot Point R3	1.0075

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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