USD/CHF Technical Analysis: Sluggish below 100-DMA, 38.2% Fibonacci

USD/CHF declines for the second consecutive day.
50% Fibonacci retracement, October low could challenge sellers.
An upside break of 0.9890 highlights 200-DMA, 23.6% Fibonacci retracement.

Anil Panchal FXStreet

USD/CHF extends the recent pullback while flashing 0.9870 as a quote during early Friday. The pair recently pulled back from 100-Day Simple Moving Average (DMA) and 38.2% Fibonacci retracement of August-October rise.

Prices are now likely declining towards 50% Fibonacci retracement and October low, near 0.9845 and 0.9835 respectively.

In a case sellers refuse to respect 0.9835 rest-point, September bottom and 61.8% Fibonacci retracement near 0.9800 will return to the charts.

Alternatively, pair’s sustained trading beyond 0.9890 resistance confluence can push bulls to confront 200-DMA and 23.6% Fibonacci retracement level around 0.9940/45.

While bearish conditions of 12-bar Moving Average Convergence and Divergence (MACD) indicate the pair’s weakness, nearness to the key support limes the downside, which in turn portrays a sluggish move. However, sustained trading below key resistance makes the pair vulnerable.

USD/CHF daily chart

Trend: Sideways

additional important levels

Overview
Today last price	0.9869
Today Daily Change	-3 pips
Today Daily Change %	-0.03%
Today daily open	0.9872

Trends
Daily SMA20	0.9929
Daily SMA50	0.9928
Daily SMA100	0.9889
Daily SMA200	0.9946

Levels
Previous Daily High	0.9896
Previous Daily Low	0.9867
Previous Weekly High	1.0024
Previous Weekly Low	0.9954
Previous Monthly High	1.0024
Previous Monthly Low	0.985
Daily Fibonacci 38.2%	0.9878
Daily Fibonacci 61.8%	0.9885
Daily Pivot Point S1	0.986
Daily Pivot Point S2	0.9849
Daily Pivot Point S3	0.9831
Daily Pivot Point R1	0.989
Daily Pivot Point R2	0.9908
Daily Pivot Point R3	0.992

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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