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.

Anil Panchal FXStreet

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

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD holds losses near 1.1850 as US, China holidays keep trade muted

EUR/USD opens the week on a softer note, trading near 1.1860 during the Asian session on Monday. Activity is likely to remain muted, with United States markets closed for the Presidents’ Day holiday, while Mainland China is also shut for the week-long Lunar New Year break.

GBP/USD flat lines as traders await key UK macro data and FOMC minutes

The GBP/USD pair kicks off a new week on a subdued note and oscillates in a narrow range, just below mid-1.3600s, during the Asian session. Moreover, the mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold remains below $5,050 despite Fed rate cut bets, uncertain geopolitical tensions

Gold edges lower after registering over 2% gains in the previous session, trading around $5,030 per troy ounce during the Asian hours on Monday. However, the non-interest-bearing Gold could further gain ground following softer January Consumer Price Index figures, which reinforced expectations that the Federal Reserve could cut rates later this year.

Top Crypto Losers: Dogecoin, Zcash, Bonk – Meme and Privacy coins under pressure

Meme coins such as Dogecoin and Bonk, alongside the privacy coin Zcash (ZEC), are leading the broader market losses over the last 24 hours. DOGE, ZEC, and BONK ended their three consecutive days of recovery with a sudden decline on Sunday, as crucial resistance levels capped the gains. Technically, the altcoins show downside risk, starting the week under pressure.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.