Monday , December 23 2024
Home / SNB & CHF / USD/CHF Price Analysis: Pullback from 50-day EMA shifts focus to weekly support trendline

USD/CHF Price Analysis: Pullback from 50-day EMA shifts focus to weekly support trendline

Summary:
USD/CHF slips from a two-week high. 61.8% Fibonacci retracement, 200-day EMA add to the resistances. While extending its U-turn from 50-day EMA, USD/CHF drops 0.30% to 0.9583 ahead of the European session on Wednesday. The pair currently declines towards 38.2% Fibonacci retracement of its fall from November 2019, at 0.9500. However, an upward sloping trend line since March 09, near 0.9470 now, could restrict further downside. In a case where the bears dominate past-0.9470, 0.9400 and 0.9320 will offer intermediate halts to the pair’s southward trajectory towards the monthly low around 0.9180. Meanwhile, a daily closing beyond 50-day EMA level of 0.9650 needs to overcome 61.8% of Fibonacci retracement, close to 0.9700, ahead of confronting 200-day EMA figures

Topics:
Anil Panchal considers the following as important: , , , ,

This could be interesting, too:

Nachrichten Ticker - www.finanzen.ch writes Krypto-Ausblick 2025: Stehen Bitcoin, Ethereum & Co. vor einem Boom oder Einbruch?

Connor O'Keeffe writes The Establishment’s “Principles” Are Fake

Per Bylund writes Bitcoiners’ Guide to Austrian Economics

Ron Paul writes What Are We Doing in Syria?

  • USD/CHF slips from a two-week high.
  • 61.8% Fibonacci retracement, 200-day EMA add to the resistances.

While extending its U-turn from 50-day EMA, USD/CHF drops 0.30% to 0.9583 ahead of the European session on Wednesday.

The pair currently declines towards 38.2% Fibonacci retracement of its fall from November 2019, at 0.9500. However, an upward sloping trend line since March 09, near 0.9470 now, could restrict further downside.

In a case where the bears dominate past-0.9470, 0.9400 and 0.9320 will offer intermediate halts to the pair’s southward trajectory towards the monthly low around 0.9180.

Meanwhile, a daily closing beyond 50-day EMA level of 0.9650 needs to overcome 61.8% of Fibonacci retracement, close to 0.9700, ahead of confronting 200-day EMA figures surrounding 0.9800.

Should there be a clear run-up past-0.9800, November month highs close to 1.0023 may lure the bulls.

USD/CHF daily chart

(see more posts on USD/CHF, )
USD/CHF Price Analysis: Pullback from 50-day EMA shifts focus to weekly support trendline

- Click to enlarge

Trend: Pullback expected


Tags: ,,

Leave a Reply

Your email address will not be published. Required fields are marked *