- 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
additional important levels
|Today last price||0.9864|
|Today Daily Change||7 pips|
|Today Daily Change %||0.07%|
|Today daily open||0.9857|
|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|
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