USD/CHF pulls back from a multi-day high, stays above 200-bar SMA. Trend-positive RSI increases the odds of upside. Despite bouncing off 200-bar simple moving average (SMA), USD/CHF fails to cross near-term key resistances as it trades around 0.9915 while heading into the European session open on Thursday. With this, the quote can witness pullback to 38.2% Fibonacci retracement of August-September upside, at 0.9880, ahead of highlighting the key 200-bar SMA level of 0.9855 for one more time. If bears dominate past-0.9855, pair’s downpour to 0.9800 can’t be denied. It should also be noted that 14-br relative strength index (RSI) supports the pair’s gradual upside by being near to 50 levels. Alternatively, an upside clearance of 0.9920/25 area including one-week-old
Topics:
Anil Panchal considers the following as important: 4) FX Trends, 4.) FXStreet on SNB CHF, Featured, newsletter, USD/CHF
This could be interesting, too:
Eamonn Sheridan writes CHF traders note – Two Swiss National Bank speakers due Thursday, November 21
Charles Hugh Smith writes How Do We Fix the Collapse of Quality?
Marc Chandler writes Sterling and Gilts Pressed Lower by Firmer CPI
Michael Lebowitz writes Trump Tariffs Are Inflationary Claim The Experts
- USD/CHF pulls back from a multi-day high, stays above 200-bar SMA.
- Trend-positive RSI increases the odds of upside.
Despite bouncing off 200-bar simple moving average (SMA), USD/CHF fails to cross near-term key resistances as it trades around 0.9915 while heading into the European session open on Thursday.
With this, the quote can witness pullback to 38.2% Fibonacci retracement of August-September upside, at 0.9880, ahead of highlighting the key 200-bar SMA level of 0.9855 for one more time. If bears dominate past-0.9855, pair’s downpour to 0.9800 can’t be denied. It should also be noted that 14-br relative strength index (RSI) supports the pair’s gradual upside by being near to 50 levels. Alternatively, an upside clearance of 0.9920/25 area including one-week-old falling trend-line and 23.6% Fibonacci retracement can trigger fresh run-up to 0.995 and then to recent highs surrounding 0.9980. However, 1.0000 psychological magnet could challenge bulls afterward. |
USD/CHF 4-hour chart, September 2019(see more posts on USD/CHF, ) |
Trend: pullback expected
Tags: Featured,newsletter,USD/CHF