USD/CHF Technical Analysis: Positive beyond 200-day SMA, 50% Fibo.


  • USD/CHF fails to cross mid-October high, 61.8% Fibonacci retracement.
  • A downside break of 0.9948 could recall 0.9900 on the chart
  • Bullish MACD keeps buyers hopeful.

The USD/CHF pair’s failure to rise beyond mid-October highs can’t be considered as it’s weakness unless the quote traders above 200-day SMA, 50% Fibonacci retracement of April-August downpour. The prices seesaw around 0.9970 during early Monday.

Also favoring the buyers are the bullish signals from 12-bar Moving Average Convergence and Divergence (MACD).

As a result, prices could keep targeting a sustained move beyond October 15 high around 1.0000, also clearing 61.8% Fibonacci retracement level of 1.0016, to question May-end top near 1.0100.

On the contrary, pair’s declines below 50% Fibonacci retracement level of 0.9948 could drag the quote to 0.9900 while the monthly bottom close to 0.9850 and the October 18 low of 0.9837 might please sellers then after.

In a case where bears keep the reins after 0.9837, 23.6% Fibonacci retracement level of 0.9795 will be on their radars.

USD/CHF daily chart

Trend: Bullish

additional important levels

Overview
Today last price 0.9972
Today Daily Change -5 pips
Today Daily Change % -0.05%
Today daily open 0.9977
 
Trends
Daily SMA20 0.9916
Daily SMA50 0.992
Daily SMA100 0.9874
Daily SMA200 0.9955
 
Levels
Previous Daily High 0.998
Previous Daily Low 0.9937
Previous Weekly High 0.998
Previous Weekly Low 0.9852
Previous Monthly High 1.0028
Previous Monthly Low 0.9837
Daily Fibonacci 38.2% 0.9964
Daily Fibonacci 61.8% 0.9953
Daily Pivot Point S1 0.9949
Daily Pivot Point S2 0.9922
Daily Pivot Point S3 0.9906
Daily Pivot Point R1 0.9992
Daily Pivot Point R2 1.0008
Daily Pivot Point R3 1.0035

 

 

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

EUR/USD hits highest since March amid US protests, European reopening

EUR/USD has jumped above 1.1150, trading at the highest since March. Protests in the US are grabbing the headlines and marginally supporting the dollar. European countries continue reopening their economies amid falling coronavirus statistics. 

EUR/USD News

GBP/USD resumes rally amid Brexit optimism, dollar weakness

GBP/USD is trading above 1.2550, extending its gains. Reports about British readiness to compromise in Brexit talks, conditioned on EU concessions, is helping boost the pound. US protests are eyed.

GBP/USD News

Bitcoin is three steps away from $14000

Bitcoin joins the list of bullish breakouts and leaves the relative highs at $14000 as a clear target in the short term. Ethereum continues to gain market share and sets the price level of $300 as a goal in the short term.

Read more

Gold trades with modest losses around $1735 level, downside seems limited

Gold traded with a mild negative bias through the early European session and was last seen hovering near the lower end of its daily range, around the $1735 region.

Gold News

WTI sits at three-month highs near $36.50 ahead of Russia’s decision, API

WTI (July futures on Nymex) broke its bullish consolidative phase to the upside in the European session and clinched fresh three-month highs at 36.48.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures