USD/CHF Technical Analysis: Positive beyond 200-day SMA, 50 percent Fibo.

Summary:
USD/CHF fails to cross mid-October high, 61.8% Fibonacci retracement. A downside break of 0.9948 could recall 0.9900 on the chart Bullish MACD keeps buyers hopeful. The USD/CHF pair’s failure to rise beyond mid-October highs can’t be considered as it’s weakness unless the quote traders above 200-day SMA, 50% Fibonacci retracement of April-August downpour. The prices seesaw around 0.9970 during early Monday. Also favoring the buyers are the bullish signals from 12-bar Moving Average Convergence and Divergence (MACD). As a result, prices could keep targeting a sustained move beyond October 15 high around 1.0000, also clearing 61.8% Fibonacci retracement level of 1.0016, to question May-end top near 1.0100. On the contrary, pair’s declines below 50% Fibonacci

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

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