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: 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
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, ) - Click to enlarge |
Trend: Pullback expected
Tags: Featured,newsletter,USD/CHF