USD/CHF Technical Analysis: 61.8 percent Fibo. on seller’s radar

Summary:
USD/CHF declines from the highest in nearly six weeks. 61.8% of Fibonacci retracement acts as immediate support. Monthly trend line resistance limits nearby upside. USD/CHF takes U-turn from one-month-old resistance line while trading around 0.9965 amid the initial trading session on Tuesday. Given the gradual pullback in the 14-bar Relative Strength Index (RSI) from the overbought conditions, prices might witness additional downside. In doing so, 61.8% Fibonacci retracement of October month downside, at 0.9935, acts as immediate support. However, 200-bar Simple Moving Average (SMA) and one-week-old rising trend line, around 0.9920, will challenge bears afterward. On the upside, the pair’s successful rise past-0.9990 resistance line needs to conquer 1.0000

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

This could be interesting, too:

Mark Thornton writes The Great Chocolate Crisis of 2024

Mustafa Ekin Turan writes How EU Law Has Made the Internet Less Free for Everyone Else

Thomas J. DiLorenzo writes Attention mises.org Readers! Treat the Students in Your Life to The Best Week of Their Year

Octavio Bermudez writes Mises in Argentina: Lessons of the Past for Today