USD/CHF technical analysis: 0.9900/10 challenges recovery from 61.8 percent Fibo.

Summary:
USD/CHF bounces off from a multi-week low. 38.2% Fibonacci retracement, late-September bottoms can question the recent upside. The USD/CHF pair’s latest recovery is less likely to prevail for long unless clearing near-term key resistance area. The quote seesaws around 0.9860 by the press time of the pre-European session on Monday. While 50% Fibonacci retracement of late-August to the early-October upside, at 0.9870, can act as an immediate upside barrier, 0.9900/10 supply-zone comprising late-September lows and 38.2% Fibonacci retracement will become a tough nut to crack for buyers. On the break of 0.9910, 0.9960 and 1.0000 will regain market attention. Alternatively, pair’s declines below 61.8% Fibonacci retracement near 0.9830 will fetch prices to September

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

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