USD/CHF technical analysis: 0.9890 is the level to beat for sellers

Summary:
USD/CHF fails to sustain the bounce off key support-confluence including 200-HMA and 38.2% Fibonacci retracement. A downside break highlights the 61.8% Fibonacci retracement level while 200-DMA caps the upside. Failures to sustain the bounce off 200-hour moving average (HMA) and 38.2% Fibonacci retracement of latest run-up drag the USD/CHF back to the key support-confluence while taking rounds to 0.9900 ahead of Friday’s European open. Should prices slip below 0.9890 support-joint, 50% Fibonacci retracement around 0.9870 may offer an intermediate halt to its downpour to 61.8% Fibonacci retracement level of 0.9855. In a case where the quote keeps falling below 0.9855, 0.9820 and 0.9800 appear on the bears’ radar. Meanwhile, pair’s another pullback can have 0.9915

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Anil Panchal considers the following as important: 4) FX Trends, 4.) FXStreet, Featured, newsletter

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