USD/CHF Technical Analysis: 38.2 percent Fibonacci, 200-DMA doubt pullback from monthly low

Summary:
USD/CHF recovers from four weeks’ low. 50% Fibonacci retracement level, October bottom restrict further downside. 200-DMA breakout will again highlight 1.0000 psychological magnet. USD/CHF seesaws around 0.9873 while heading into the European session on Wednesday. The quote dropped to the lowest since early November on Tuesday but pulls back off-late. The pair’s refrain to drop further below the latest bottom seems to prepare for a confrontation to 38.2% Fibonacci retracement of August-October rise, near 0.9890. Though, 200-Day Simple Moving Average (DMA), at 0.9920 now, seems to restrict the quote’s advances afterward. If at all bulls manage to cross 200-DMA, 0.9980 and 1.0000 could regain market attention. On the downside, 50% Fibonacci retracement and October

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

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