USD/CHF technical analysis: Pivots around 200-day SMA, near mid-0.9900s

Continued with its struggle to extend the momentum beyond 200-DMA.
Bears eye a decisive break below the ascending trend-channel support.
Bulls are likely to await a sustained strength above the key parity mark.

Haresh Menghani FXStreet

The USD/CHF pair failed to capitalize on last week's attempted rebound from a support marked by the lower end of a two-month-old ascending trend-channel and met with some fresh supply on Monday.

The pair's repeated failed attempts to extend the momentum further beyond the very important 200-day SMA now seemed to suggest that the recent positive move might have already run out of the steam.

Meanwhile, oscillators on hourly charts have struggled to gain any meaningful traction but managed to hold with a mild positive bias, warranting some caution before placing any aggressive bearish bets.

Hence, it will be prudent to wait for a sustained break below the mentioned trend-channel support, currently near the 0.9925 region, before positioning for a slide back towards the 0.9900 handle.

Sustained weakness below the mentioned support will reaffirm a near-term bearish breakdown and accelerate the slide further towards the next major support near the 0.9860-55 region.

On the upside, bulls are likely to wait for a decisive breakthrough the parity mark, above which the pair is likely to aim towards testing the recent swing highs resistance near the 1.0025-30 region.

The momentum could further get extended, though is likely to confront stiff resistance near the top end of the mentioned trend-channel, currently near the 1.0100 round-figure mark.

USD/CHF daily chart

USD/CHF

Overview
Today last price	0.9956
Today Daily Change	-0.0011
Today Daily Change %	-0.11
Today daily open	0.9967

Trends
Daily SMA20	0.9939
Daily SMA50	0.9867
Daily SMA100	0.9881
Daily SMA200	0.9953

Levels
Previous Daily High	0.9991
Previous Daily Low	0.9956
Previous Weekly High	0.9991
Previous Weekly Low	0.9904
Previous Monthly High	0.9988
Previous Monthly Low	0.9797
Daily Fibonacci 38.2%	0.997
Daily Fibonacci 61.8%	0.9978
Daily Pivot Point S1	0.9952
Daily Pivot Point S2	0.9937
Daily Pivot Point S3	0.9917
Daily Pivot Point R1	0.9987
Daily Pivot Point R2	1.0006
Daily Pivot Point R3	1.0021

Author

Haresh Menghani

FXStreet

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

EUR/USD loses the grip, returns to the sub-1.1800 zone

EUR/USD extends its daily pullback, slipping below the 1.1800 mark and hitting fresh multi-day lows ahead of the opening bell in Asia. The move reflects renewed strength in the US Dollar, with investors continuing to digest the so-called “Warsh trade” while weighing the latest US data releases.

GBP/USD bounces off lows, retests 1.3640

GBP/USD adds to Friday’s losses, reaching six-day lows near 1.3620, although regaining some composure soon afterwards. Indeed, Cable’s pullback comes amid the ongoing solid performance of the Greenback, while traders also begin to turn their attention to the upcoming BoE meeting.

Gold looking to stabilize below $4,700

Gold remains under heavy pressure in quite a negative start to the week, hovering around the $4,600 region per troy ounce and retreating for the third day in a row. The yellow metal’s decline comes amid strong gains in the US Dollar, the broad-based rebound in US Treasury yield and the deep sell-off in the precious metals’ space.

Ethereum Price Forecast: ETH bounces off $2,150 as Bitmine stretches holdings above 4.28 million ETH

Ethereum (ETH) treasury firm Bitmine Immersion Technologies (BMNR) scooped 41,788 ETH last week in another round of weekly ETH acquisition.

Warsh effect ripples through markets, central banks on deck this week

The first full month of the year is behind us, and, honestly, it has been rather more dramatic than most had anticipated when toasting the New Year. We wrapped up last week with US President Donald Trump announcing his Fed Chair pick.

Ripple steadies after sell-off as low on-chain activity, retail interest weigh

XRP rebounds from last week’s support at $1.50 but struggles below resistance at $1.77. Active addresses on the XRP Ledger dropped below 18,000 on Sunday amid risk-averse sentiment. Retail interest in XRP continues to decline, with futures Open Interest dropping to $2.81 billion.