USD/CHF Price Analysis: Weak below 21-day EMA, two-week-old falling trendline`

Summary:
USD/CHF confronts near-term key resistances. The previous week’s low can lure short-term sellers. 50-day EMA, 38.2% Fibonacci retracement confluence add to the resistance. USD/CHF struggles to extend the latest recovery while trading around 0.9700 during Monday’s Asian session. 21-day EMA and 23.6% Fibonacci retracement of the pair’s declines from November 2019 to the current month low seem to restrict the immediate upside. In addition to 0.9711 immediate resistance confluence, a downward sloping trend line since January 10, at 0.9720 now, also challenges short-term buyers. Even if the pair manages to cross 0.9720 barriers, it’s rally isn’t confirmed as 50-day EMA and 38.2% Fibonacci retracement around 0.9770 stands tall to disappoint the bulls. On the flip side,

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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