USD/CHF pulls back from 0.9990, 23.6% Fibonacci retracement on the sellers’ radar. 200-bar SMA, followed by rising multi-week-old rising trendline and 38.2% Fibonacci retracement, limit further declines. Despite witnessing a downside pressure off-late, the USD/CHF pair remains well above the key supports while taking rounds to 0.9960 amid pre-European open session on Monday. While 23.6% Fibonacci retracement of August–October upside, at 0.9940, seems to please short-term sellers, 200-bar Simple Moving Average (SMA) around 0.9920, will challenge bears afterward. If at all prices decline below 0.9920, 0.9890/87 area including an upward sloping trend-line since September 04 and 38.2% Fibonacci retracement will limit further downside, if not then 0.9840 and 0.9800,
Topics:
Anil Panchal considers the following as important: 1) SNB and CHF, 1.) FXStreet on SNB&CHF, Featured, newsletter
This could be interesting, too:
Eamonn Sheridan writes CHF traders note – Two Swiss National Bank speakers due Thursday, November 21
Charles Hugh Smith writes How Do We Fix the Collapse of Quality?
Marc Chandler writes Sterling and Gilts Pressed Lower by Firmer CPI
Michael Lebowitz writes Trump Tariffs Are Inflationary Claim The Experts
- USD/CHF pulls back from 0.9990, 23.6% Fibonacci retracement on the sellers’ radar.
- 200-bar SMA, followed by rising multi-week-old rising trendline and 38.2% Fibonacci retracement, limit further declines.
| Despite witnessing a downside pressure off-late, the USD/CHF pair remains well above the key supports while taking rounds to 0.9960 amid pre-European open session on Monday.
While 23.6% Fibonacci retracement of August–October upside, at 0.9940, seems to please short-term sellers, 200-bar Simple Moving Average (SMA) around 0.9920, will challenge bears afterward. If at all prices decline below 0.9920, 0.9890/87 area including an upward sloping trend-line since September 04 and 38.2% Fibonacci retracement will limit further downside, if not then 0.9840 and 0.9800, comprising 61.8% Fibonacci retracement, could gain market attention. On the contrary, pair’s run-up beyond 0.9990 can again aim for 1.0030 while May-end tops nearing 1.0100 could lure bulls then after. |
USD/CHF 4-hour chart, October 14(see more posts on USD/CHF, ) - Click to enlarge |
Trend: pullback expected
Tags: Featured,newsletter