USD/CHF technical analysis: Repeated bounces off 50% Fibo. keeps bullish bias intact

  • USD/CHF nears 100-day SMA amid yet another bounce off 50% Fibonacci retracement.
  • 61.8% of Fibonacci retracement adds support to the downside.

With its yet another bounce off 50% Fibonacci retracement of August-October advances, USD/CHF nears 100-day Simple Moving Average (SMA) while taking the bids to 0.9865 amid initial trading on Monday.

Should prices manage to close beyond a 100-day SMA level of 0.9871, early October lows near 0.9900 and 0.9940/43 resistance confluence, including a monthly falling trend line and 23.6% Fibonacci retracement, holds the key to pair’s rise towards 200-day SMA level of 0.9955.

In a case where the quote rallies beyond 0.9955, 1.0000 and the previous month high close to 1.0030 will be the key to watch.

If at all sellers sneak in around 50% Fibonacci retracement level of 0.9843, an extended decline below 61.8% Fibonacci retracement level of 0.9800 is widely anticipated.

Additionally, a sustained trading below 0.9800 could give rise to late-August low, near 0.9715, on the bear’s radar.

USD/CHF daily chart

Trend: bullish

additional important levels

Today last price 0.9864
Today Daily Change 7 pips
Today Daily Change % 0.07%
Today daily open 0.9857
Daily SMA20 0.9921
Daily SMA50 0.991
Daily SMA100 0.9872
Daily SMA200 0.9955
Previous Daily High 0.9895
Previous Daily Low 0.985
Previous Weekly High 0.997
Previous Weekly Low 0.985
Previous Monthly High 1.0028
Previous Monthly Low 0.9837
Daily Fibonacci 38.2% 0.9867
Daily Fibonacci 61.8% 0.9878
Daily Pivot Point S1 0.984
Daily Pivot Point S2 0.9822
Daily Pivot Point S3 0.9794
Daily Pivot Point R1 0.9885
Daily Pivot Point R2 0.9912
Daily Pivot Point R3 0.993



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

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD falls amid Sino-American tensions ahead of Non-Farm Payrolls

EUR/USD is trading around 1.1850, down amid a risk-off mood stemming from President Trump's move against China's TikTok and WeChat. Tension is mounting ahead of the highly uncertain Non-Farm Payrolls.


Gold consolidates near record highs, flat-lined around $2060 area ahead of NFP

Concerns about escalating US-China tensions pushed gold to fresh record highs on Friday. A goodish pickup in the USD prompted some profit-taking amid overbought conditions. 

Gold News

GBP/USD retreats amid doubts about the furlough scheme, dollar strength

GBP/USD is struggling around 1.31 as UK Chancellor Rishi Sunak said the furlough scheme that is underpinning the economy cannot last forever. The dollar is gaining ground amid geopolitical tensions ahead of the Non-Farm Payrolls.


Forex Today: Dollar ticks up after Trump's TikTok move, all eyes on Non-Farm Payrolls

Trump's executive order against TikTok and WeChat has dampened the market mood and strengthened the dollar. Fiscal stimulus have made limited progress and investors are now focused on July NFP, which carries high uncertainty amid the resurgence of coronavirus. 

Read more

WTI drops 1% to $41.50 ahead of US NFP, rigs data

WTI (futures on Nymex) is on a steady decline so far this Friday, undermined by reduced demand for higher-yielding assets amid the renewed US-China tensions induced risk-aversion.

Oil News