Monday , February 17 2020
Home / SNB & CHF / USD/CHF Price Analysis: 21-day SMA, seven-week-old falling trendline question buyers

USD/CHF Price Analysis: 21-day SMA, seven-week-old falling trendline question buyers

Summary:
USD/CHF registers five-day winning streak, rises to a one-week high. A downside break of 0.9644 can refresh monthly lows. 38.2% Fibonacci retracement could lure buyers during further upside. USD/CHF takes the bids to 0.9700, following the intra-day high of 0.9702, while heading into the European session on Wednesday. The pair nears the key short-term resistance confluence including 21-day SMA 23.6% Fibonacci retracement of the pair November-January fall and a descending trend line since December 06 around 0.9707/13. Should prices manage to provide a daily closing beyond 0.9717, an extended run-up to 38.2% Fibonacci retracement level of 0.9770 can’t be ruled out. Meanwhile, lows marked on December 31 and January 17 highlights 0.9644 as the immediate support, a

Topics:
Anil Panchal considers the following as important: , , , ,

This could be interesting, too:

Tyler Durden writes “ECB Is Worst-Run Central Bank In The World” – Felix Zulauf Sees 30percent Plunge In US Stocks “Taking The World With It”

Cash writes Devisen: Euro stabilisiert sich nach neuem Tief seit fast drei Jahren

Fx Analyst writes EUR/CHF: SNB does not find love in prices – Rabobank

Flavio Tosti writes USD/CHF Price Analysis: Greenback grinding up vs. Swiss franc, clings to 2020 highs

  • USD/CHF registers five-day winning streak, rises to a one-week high.
  • A downside break of 0.9644 can refresh monthly lows.
  • 38.2% Fibonacci retracement could lure buyers during further upside.

USD/CHF takes the bids to 0.9700, following the intra-day high of 0.9702, while heading into the European session on Wednesday.

The pair nears the key short-term resistance confluence including 21-day SMA 23.6% Fibonacci retracement of the pair November-January fall and a descending trend line since December 06 around 0.9707/13.

Should prices manage to provide a daily closing beyond 0.9717, an extended run-up to 38.2% Fibonacci retracement level of 0.9770 can’t be ruled out.

Meanwhile, lows marked on December 31 and January 17 highlights 0.9644 as the immediate support, a break of which could push the bears towards refreshing the 16-month low towards 0.9600 round-figure and then to September 2018 bottom surrounding 0.9540.

USD/CHF daily chart

(see more posts on USD/CHF, )
USD/CHF Price Analysis: 21-day SMA, seven-week-old falling trendline question buyers

- Click to enlarge

Trend: Pullback expected


Tags: ,,

Leave a Reply

Your email address will not be published. Required fields are marked *