USD/CHF stays positive above 200-day SMA, 50% Fibonacci retracement. A sustained run-up beyond 61.8% Fibonacci retracement can aim for late-May highs. Despite successfully trading above key support confluence, the USD/CHF pair fails to provide a daily closing above 61.8% Fibonacci retracement of April-August downpour. The quote takes the bids to 0.9975 while heading into the European open on Thursday. Given the bullish signals from 12-bar moving average convergence and divergence (MACD) and 14-bar relative strength index (RSI), the pair is likely to extend north-run towards late-May highs surrounding 1.0100 if successfully closing above the key Fibonacci retracement level of 1.0016. On the contrary, a 200-day simple moving average (SMA) and 50% Fibonacci
Topics:
Anil Panchal considers the following as important: 1) SNB and CHF, 1.) FXStreet on SNB&CHF, 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
- USD/CHF stays positive above 200-day SMA, 50% Fibonacci retracement.
- A sustained run-up beyond 61.8% Fibonacci retracement can aim for late-May highs.
Despite successfully trading above key support confluence, the USD/CHF pair fails to provide a daily closing above 61.8% Fibonacci retracement of April-August downpour. The quote takes the bids to 0.9975 while heading into the European open on Thursday.
Given the bullish signals from 12-bar moving average convergence and divergence (MACD) and 14-bar relative strength index (RSI), the pair is likely to extend north-run towards late-May highs surrounding 1.0100 if successfully closing above the key Fibonacci retracement level of 1.0016. On the contrary, a 200-day simple moving average (SMA) and 50% Fibonacci retracement offer important support close to 0.9948/50, a break of which could quick drag prices to the six-week-old rising trend-line, at 0.9880. If at all bears manage to dominate below 0.9880, 0.9845/40 and 0.9800 will appear on their watch-list. |
USD/CHF daily chart, April-October 2019(see more posts on USD/CHF, ) |
Trend: bullish
Tags: Featured,newsletter,USD/CHF