USD/CHF Technical Analysis: Sellers hopeful on Doji formation below monthly trendline


  • USD/CHF portrays buyers’ exhaustion despite the absence of losses since Tuesday.
  • December month low will be the key to watch.

USD/CHF trades mostly unchanged around 0.9730 while heading into the European session on Friday. The pair formed a Doji candlestick on the daily (D1) chart by Thursday’s end after recovering for the two consecutive prior days.

Considering the candlestick formation indicating the reversal of the previous trend, coupled with the pair’s sustained trading below a downward sloping trend line since December 06, the pair’s further recovery is doubtful.

As a result, sellers will look for entry below Thursday’s low of 0.9711 while targeting 0.9675 and the 2019-end low of 0.9645.

During the quote’s extended downpour beneath 0.9645, 0.9600 and September 2018 low surrounding 0.9550/45 will be the key to watch.

On the upside, pair’s rise beyond 0.9755 trend line resistance will push buyers to aim for a late-December high near 0.9730 and 50-day SMA level of 0.9850 during further advances.

USD/CHF daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 0.9733
Today Daily Change 1 pip
Today Daily Change % 0.01%
Today daily open 0.9732
 
Trends
Daily SMA20 0.976
Daily SMA50 0.9852
Daily SMA100 0.988
Daily SMA200 0.9918
 
Levels
Previous Daily High 0.9748
Previous Daily Low 0.9711
Previous Weekly High 0.9757
Previous Weekly Low 0.9646
Previous Monthly High 1.0009
Previous Monthly Low 0.9646
Daily Fibonacci 38.2% 0.9734
Daily Fibonacci 61.8% 0.9725
Daily Pivot Point S1 0.9713
Daily Pivot Point S2 0.9693
Daily Pivot Point S3 0.9675
Daily Pivot Point R1 0.975
Daily Pivot Point R2 0.9768
Daily Pivot Point R3 0.9788

 

 

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