USD/CHF technical analysis: Buyers’ exhaustion around 0.9985/90

Summary:
USD/CHF repeatedly fails to cross 0.9985/90 area. A two-month-old rising trend-line, 100-day EMA grabs sellers’ attention. Repeated failures to rise past-0.9985/90 resistance-area drags USD/CHF to 0.9965 by the press time of early Tuesday. The pair now witnesses pullback towards the two-month-old rising trend-line, at 0.9930, a break of which could further drag the quote to a 100-day Exponential Moving Average (EMA) level of 0.9910. Though, pair’s declines beneath 0.9910 can take aim at September 24 low nearing 0.9845. On the flip side, pair’s successful run-up beyond 0.9990 needs validation from 61.8% Fibonacci retracement of April-August declines, at 1.0016, in order to aim for 1.0100 mark. USD/CHF daily chart, October 15(see more posts on USD/CHF, ) - Click

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Anil Panchal considers the following as important: 1) SNB and CHF, 1.) FXStreet on SNB&CHF, Featured, newsletter, USD/CHF

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