USD/CHF remains below near-term resistance-line forming part of immediate rising wedge bearish formation. 200-bar SMA, 50% Fibonacci retracement can question pair’s downside below 0.9857/54 confluence. USD/CHF fails to extend the latest upward trajectory as it trades near 0.9900 during Asian session on Monday. While drawing trend-lines with the help of highs and lows marked since August 23, a short-term rising wedge, bearish formation, appears on the four-hour chart. However, the resistance-line can be stretched since early-August levels for further precision. As a result, 0.9922 acts as a tough upside barrier amid overbought conditions of 14-bar relative strength index (RSI), a break of which can escalate the pair’s rise to July 26 high of 0.9948 ahead of
Topics:
Anil Panchal considers the following as important: 4) FX Trends, 4.) FXStreet, Featured, newsletter
This could be interesting, too:
Nachrichten Ticker - www.finanzen.ch writes Krypto-Ausblick 2025: Stehen Bitcoin, Ethereum & Co. vor einem Boom oder Einbruch?
Connor O'Keeffe writes The Establishment’s “Principles” Are Fake
Per Bylund writes Bitcoiners’ Guide to Austrian Economics
Ron Paul writes What Are We Doing in Syria?
USD/CHF fails to extend the latest upward trajectory as it trades near 0.9900 during Asian session on Monday. While drawing trend-lines with the help of highs and lows marked since August 23, a short-term rising wedge, bearish formation, appears on the four-hour chart. However, the resistance-line can be stretched since early-August levels for further precision. As a result, 0.9922 acts as a tough upside barrier amid overbought conditions of 14-bar relative strength index (RSI), a break of which can escalate the pair’s rise to July 26 high of 0.9948 ahead of flashing August month top of 0.9968 on buyers’ radar. During the pair’s pullback, 61.8% Fibonacci retracement of August month downpour and the formation’s lower-line becomes the key support around 0.9857/54, a break of which can drag the quote to 200-bar simple moving average (SMA) and 50% Fibonacci retracement near 0.9818/17. In a case, prices keep trading southwards past-0.9817, August 25 low near 0.9717 could be bears’ favorite. |
USD/CHF Four Hours Chart, July - August 2019(see more posts on USD/CHF, ) - Click to enlarge |
Trend: pullback expected
Tags: Featured,newsletter