USD/CHF again confronts 50-DMA while seeking a downward resistance-line since August 01. 23.6% of Fibonacci retracement can offer immediate support. Swiss ZEW Survey – Expectations in the spotlight. Sustained trading beyond 23.6% Fibonacci retracement of April-August declines enables USD/CHF to near the 50-day simple moving average (DMA) while taking the bids to 0.9820 during Wednesday’s Asian session. With the 12-bar moving average convergence and divergence (MACD) indicating bullish signal, prices are more likely to cross the 50-DMA barrier of 0.9825. USD/CHF Daily Chart, May - August 2019(see more posts on USD/CHF, ) - Click to enlarge However, a falling trend-line since month-start, at 0.9861 will question buyers afterward. If buyers manage to clear
Topics:
Anil Panchal considers the following as important: 4) FX Trends, 4.) FXStreet, Featured, newsletter, USD/CHF
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
Sustained trading beyond 23.6% Fibonacci retracement of April-August declines enables USD/CHF to near the 50-day simple moving average (DMA) while taking the bids to 0.9820 during Wednesday’s Asian session. With the 12-bar moving average convergence and divergence (MACD) indicating bullish signal, prices are more likely to cross the 50-DMA barrier of 0.9825. |
USD/CHF Daily Chart, May - August 2019(see more posts on USD/CHF, ) |
However, a falling trend-line since month-start, at 0.9861 will question buyers afterward.
If buyers manage to clear 0.9861 resistance-line, 38.2% Fibonacci retracement level of 0.9880 can please short-term bulls ahead of challenging them with 0.9949/54 area including 200-DMA and 50% Fibonacci retracement.
Alternatively, 23.6% Fibonacci retracement level of 0.9796 acts as immediate support, a break of which could drag prices to two-week-old rising trend-line, at 0.9726.
Given the sellers’ capacity derail the support-line, 0.9690/95 horizontal-region comprising low of June and August 08 appear in the spotlight.
On a different note, Swiss ZEW Survey – Expectations for August will also direct near-term moves. The sentiment number last dropped to -24.
Trend: Pullback expected
Tags: Featured,newsletter,USD/CHF