USD/CHF Technical Analysis: Symmetrical triangle on hourly chart signals return of 1.0000

Anil Panchal FXStreet

USD/CHF is trading near 1.0020 while heading into the European session on Monday. If we observe a week’s movement, the short-term symmetrical triangle can be spotted on an hourly chart.

With the quote’s recent U-turn from formation resistance, chances of its pullback to the pattern-support figure of 1.0000 seem brighter.

In doing so, 1.0010 can offer an intermediate halt to the prices.

Should there be additional downside past-1.0000, 0.9980, 0.9960 and 0.9930 can come back on the chart.

Meanwhile, an upside clearance of 1.0025 resistance-line can trigger the pair’s increase to 1.0035 and then to 1.0045.

Given the buyers manage to rule beyond 1.0045, 61.8% Fibonacci expansion (FE) of current month moves, at 1.0070, could flash on their radar to target.

USD/CHF hourly chart

Trend: Pullback expected

additional important levels

Overview
Today last price	1.0019
Today Daily Change	-5 pips
Today Daily Change %	-0.05
Today daily open	1.0024

Trends
Daily SMA20	0.9976
Daily SMA50	1.0009
Daily SMA100	0.9961
Daily SMA200	0.9926

Levels
Previous Daily High	1.0037
Previous Daily Low	0.9997
Previous Weekly High	1.0047
Previous Weekly Low	0.9977
Previous Monthly High	1.0125
Previous Monthly Low	0.9894
Daily Fibonacci 38.2%	1.0012
Daily Fibonacci 61.8%	1.0022
Daily Pivot Point S1	1.0002
Daily Pivot Point S2	0.9979
Daily Pivot Point S3	0.9962
Daily Pivot Point R1	1.0042
Daily Pivot Point R2	1.0059
Daily Pivot Point R3	1.0082

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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