USD/CHF confronts 23.6% Fibonacci retracement following the bounce off 21-day SMA. Early month lows add to the support while 38.2% Fibonacci retracement, 50-day SMA will challenge recovery moves. USD/CHF takes the bids to 0.9707 during the pre-Europe session on Friday. In doing so, the pair repeats the tendency of staying beyond 21-day SMA while also confronting 23.6% Fibonacci retracement of its declines from November 29, 2019, to January 16, 2020. The sustained trading above short-term SMA is likely to extend the pair’s pullback moves toward a 38.2% Fibonacci retracement level of 0.9770, following the clear break of 0.9820 mark comprising 23.6% of Fibonacci retracement. However, a 50-day SMA level near 0.9781 and late-December 2019 top surrounding 0.9830 will
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:
Connor O'Keeffe writes Is the Violence in Haiti a Preview of a Libertarian Society?
Douglas French writes Tapping 401ks to Pay the Bills
Marc Chandler writes Dollar Extends Gains Against the Yen but Broadly Firmer Ahead of the FOMC
Grey Haneberg writes Reimagining Public Safety – The Case for Privatizing Security
- USD/CHF confronts 23.6% Fibonacci retracement following the bounce off 21-day SMA.
- Early month lows add to the support while 38.2% Fibonacci retracement, 50-day SMA will challenge recovery moves.
USD/CHF takes the bids to 0.9707 during the pre-Europe session on Friday. In doing so, the pair repeats the tendency of staying beyond 21-day SMA while also confronting 23.6% Fibonacci retracement of its declines from November 29, 2019, to January 16, 2020.
The sustained trading above short-term SMA is likely to extend the pair’s pullback moves toward a 38.2% Fibonacci retracement level of 0.9770, following the clear break of 0.9820 mark comprising 23.6% of Fibonacci retracement. However, a 50-day SMA level near 0.9781 and late-December 2019 top surrounding 0.9830 will challenge the buyers. Alternatively, pair’s daily closing below 21-day SMA level of 0.9700 may recall early-month bottoms close to 0.9665 ahead of testing the monthly low of 0.9613. |
USD/CHF daily chart(see more posts on USD/CHF, ) |
Trend: Trend: Pullback expected
Tags: Featured,newsletter,USD/CHF