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

Overview
Today last price 0.9864
Today Daily Change 7 pips
Today Daily Change % 0.07%
Today daily open 0.9857
 
Trends
Daily SMA20 0.9921
Daily SMA50 0.991
Daily SMA100 0.9872
Daily SMA200 0.9955
 
Levels
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.

Feed news

Latest Forex News

Editors’ Picks

GBP/USD catches fresh bids, regains1.3400 ahead of UK PMIs

GBP/USD sees a fresh leg higher in early European trading, as the bulls take out the 1.34 handle amid growing optimism over a speedy and soft Brexit. The focus remains on the UK Markit Preliminary PMIs ahead of BOE.

GBP/USD News

EUR/USD: Bulls look to test 200-DMA ahead of Eurozone PMIs

EUR/USD edges a few pips higher towards the 200-DMA located at 1.1153 ahead of the German and Eurozone Preliminary Manufacturing and Services PMI reports. Better-than-expected German PMI is needed to avoid a bearish close.

EUR/USD News

Forex Today: Caution over deal details offset better China data; Brexit optimism, PMIs to dominate

Despite both sides agreeing on the Phase One trade deal on Friday, markets traded with caution, as they remained sceptical over the details of the deal that appear murky.

Read more

Gold: Flatlined after the biggest weekly gain since September

Gold is lacking a clear directional bias in Asia, having eked out its biggest weekly gain in nearly three months. The yellow metal is currently trading at $1,474 per Oz, representing little or no change on the day.

Gold News

USD/JPY clings to modest gains, just below mid-109.00s

The USD/JPY pair edged higher on the first day of a new trading week, albeit lacked any strong follow-through and remained well within the previous session's trading range.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures