Saturday , November 9 2024
Home / SNB & CHF / USD/CHF Price Analysis: Registers three-day winning streak, probes 21-day EMA

USD/CHF Price Analysis: Registers three-day winning streak, probes 21-day EMA

Summary:
USD/CHF extends recovery from mid-January lows. A ten-week-old falling trend line, short-term horizontal resistance area will challenge the pair’s latest pullback. The pair’s break of yearly low can push the bears towards late-2018 lows. USD/CHF takes the bids to 0.9700 during the pre-European session on Wednesday. That said, 21-day EMA limits the pair’s immediate upside amid the bullish MACD signals. Even if the pair manages to clear the 0.9700 mark on a daily closing basis, a downward sloping trend line since November 29, at 0.9740, will stand tall to question the buyers. Additionally, 0.9770/63 area including December 12, 2019, low and highs marked from January could keep a tab on the bulls past-0.9740. Meanwhile, the last week’s low near 0.9660 and the yearly

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

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 extends recovery from mid-January lows.
  • A ten-week-old falling trend line, short-term horizontal resistance area will challenge the pair’s latest pullback.
  • The pair’s break of yearly low can push the bears towards late-2018 lows.
USD/CHF takes the bids to 0.9700 during the pre-European session on Wednesday. That said, 21-day EMA limits the pair’s immediate upside amid the bullish MACD signals.

Even if the pair manages to clear the 0.9700 mark on a daily closing basis, a downward sloping trend line since November 29, at 0.9740, will stand tall to question the buyers.

Additionally, 0.9770/63 area including December 12, 2019, low and highs marked from January could keep a tab on the bulls past-0.9740.

Meanwhile, the last week’s low near 0.9660 and the yearly bottom surrounding 0.9613 can take rest around 0.9600 ahead of challenging September 2018 trough close to 0.9540.

USD/CHF daily chart

(see more posts on USD/CHF, )
USD/CHF Price Analysis: Registers three-day winning streak, probes 21-day EMA

- Click to enlarge

Trend: Pullback expected


Tags: ,,

Leave a Reply

Your email address will not be published.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