USD/CHF holds onto recovery gains inside the short-term bullish technical pattern. Key SMA, sluggish MACD question the buyers. In addition to the current risk-reset, USD/CHF takes clues from the technical indicators while rising 0.26% to 0.9493 amid the initial trading session on Tuesday. The pair recently bounced off the support-line of a one-week-old rising trend channel, which in turn pushes the quote towards a 100-bar SMA level of 0.9540. However, the quote’s further upside beyond 0.9540 might find it difficult to sustain as 61.8% Fibonacci retracement of the declines from early-February, at 0.9595, can question the buyers. If at all the bulls manage to conquer 0.9600 round-figure, 200-bar SMA and the resistance line of the said channel around 0.9655 could
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:
Jane L. Johnson writes Contrived Scarcity and Antitrust Lawsuits—“It’s Not a Bag, It’s a Birkin”
David Gordon writes What Is Consent?
Lance Roberts writes Trump Presidency – Quick Thoughts On Market Impact
Robert P. Murphy writes How Can Mining Asteroids in the Future Make Us Richer Today?
- USD/CHF holds onto recovery gains inside the short-term bullish technical pattern.
- Key SMA, sluggish MACD question the buyers.
In addition to the current risk-reset, USD/CHF takes clues from the technical indicators while rising 0.26% to 0.9493 amid the initial trading session on Tuesday.
The pair recently bounced off the support-line of a one-week-old rising trend channel, which in turn pushes the quote towards a 100-bar SMA level of 0.9540. However, the quote’s further upside beyond 0.9540 might find it difficult to sustain as 61.8% Fibonacci retracement of the declines from early-February, at 0.9595, can question the buyers. If at all the bulls manage to conquer 0.9600 round-figure, 200-bar SMA and the resistance line of the said channel around 0.9655 could trigger the pair’s pullback moves. Meanwhile, a downside break of 0.9450 will defy the bullish technical pattern and can drag the quote towards 0.9400 round-figure. During the pair’s additional weakness past-0.9400, 0.9320 and the monthly low surrounding 0.9180/85 will be on the bears’ radars. |
USD/CHF four-hour chart(see more posts on USD/CHF, ) |
Trend: Further recovery expected
Tags: Featured,newsletter,USD/CHF