Thursday , November 21 2024
Home / SNB & CHF / USD/CHF Price Analysis: Bears hold the baton despite recent recovery

USD/CHF Price Analysis: Bears hold the baton despite recent recovery

Summary:
USD/CHF stays beyond 23.6% Fibonacci retracement but fails to clear a fortnight-long falling trend line. 200-bar SMA, 61.8% Fibonacci retracement add to resistance. USD/CHF pierces 0.9700 by the press time of early Tuesday. The pair have recently been recovering but a downward sloping trend line since January 16 caps immediate upside. Even if the buyers cross 0.9715 resistance line, 200-bar SMA and 61.8% Fibonacci retracement of its December 24, 20119 to January 16, 2020 fall, near 0.9735 and 0.9750 respectively, could challenge the bulls. In a case where the USD/CHF prices rally beyond 0.9750, January 10 top surrounding 0.9765 could challenge further upside. Meanwhile, 23.6% Fibonacci retracement, at 0.9665, holds the key to pair’s declines towards the monthly

Topics:
Anil Panchal considers the following as important: , , ,

This could be interesting, too:

Marc Chandler writes Sterling and Gilts Pressed Lower by Firmer CPI

Ryan McMaken writes A Free-Market Guide to Trump’s Immigration Crackdown

Wanjiru Njoya writes Post-Election Prospects for Ending DEI

Swiss Customs writes Octobre 2024 : la chimie-pharma détermine le record à l’export

  • USD/CHF stays beyond 23.6% Fibonacci retracement but fails to clear a fortnight-long falling trend line.
  • 200-bar SMA, 61.8% Fibonacci retracement add to resistance.
USD/CHF pierces 0.9700 by the press time of early Tuesday. The pair have recently been recovering but a downward sloping trend line since January 16 caps immediate upside.

Even if the buyers cross 0.9715 resistance line, 200-bar SMA and 61.8% Fibonacci retracement of its December 24, 20119 to January 16, 2020 fall, near 0.9735 and 0.9750 respectively, could challenge the bulls.

In a case where the USD/CHF prices rally beyond 0.9750, January 10 top surrounding 0.9765 could challenge further upside.

Meanwhile, 23.6% Fibonacci retracement, at 0.9665, holds the key to pair’s declines towards the monthly bottom of 0.9613 and then to 0.9600 round-figure.

USD/CHF four-hour chart

(see more posts on USD/CHF, )
USD/CHF Price Analysis: Bears hold the baton despite recent recovery

- Click to enlarge

Trend: Bearish


Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *