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

 

 

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