Tag Archives: 1.) FXStreet on SNB&CHF

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...

USD/CHF snaps two-day winning streak, reversed from monthly resistance line. Buyers will remain hopeful unless the channel’s support breaks. 50% and 38.2% of Fibonacci retracements could offer intermediate halts during the declines. USD/CHF declines to 0.9728, -0.11%, by the press time of early Thursday. The pair recently reversed from an ascending trend line since December 29, 2019. Even so, it stays inside the short-term bullish technical formation. Considering the...

USD/CHF trades successfully above 21-day SMA, 23.6% Fibonacci retracement. Positive oscillators favor further upside, 0.9832/37 can stop buyers beyond 50-day SMA. 0.9600 will gain the bear’s attention below the monthly bottom. USD/CHF takes the bids to 0.9740, following an intra-day high of 0.9744, amid the initial trading session on Wednesday. The pair recently crossed 21-day SMA and 23.6% Fibonacci retracement of its October 2019 to January 16, 2020 low. If the...

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,...

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...

USD/CHF extends recovery gains from the two-day low. Sellers await a downside break of 23.6% Fibonacci retracement. A monthly trend line will keep buyers away. USD/CHF takes rounds to 0.9683 during the pre-European session on Thursday. In doing so, the pair bounces off Tuesday’s low. However, the pair still remains below the monthly resistance line while the MACD flashes the bearish signals for the first time in a week, which in turn portrays the underlying weakness...

Andrea Maechler Being put on the currency manipulation watchlist by the United States will not change the Swiss National Bank’s (SNB) monetary policy, SNB Governing Board member Andrea Maechler said on Wednesday, per Reuters. “The SNB is ready to intervene in FX markets if needed,” Maechler noted and added that the SNB will end negative interest rates as soon as they are able to. Market reaction The USD/CHF pair largely ignored these remarks and was last seen trading...

USD/CHF registers five-day winning streak, rises to a one-week high. A downside break of 0.9644 can refresh monthly lows. 38.2% Fibonacci retracement could lure buyers during further upside. USD/CHF takes the bids to 0.9700, following the intra-day high of 0.9702, while heading into the European session on Wednesday. The pair nears the key short-term resistance confluence including 21-day SMA 23.6% Fibonacci retracement of the pair November-January fall and a...

USD/CHF consolidates Friday’s goodish intraday positive move. The prevalent cautious mood seemed to have capped the upside. The USD/CHF pair was seen oscillating in a narrow trading band below the 0.9700 mark on Monday and consolidated the previous session’s goodish positive move. A combination of supporting factors helped the pair to gain some follow-through positive traction for the second consecutive session on Friday and build on the previous session’s modest...

Analysts at MUFG Bank, point out that the Swiss franc has strengthened alongside the price of gold, perhaps reflecting debasement fears. They argue market participants are also questioning Swiss National Bank’s appetite for maintaining negative rates and intervening to dampen CHF strength. Key Quotes: “Market participants are also questioning whether the SNB will still has the same appetite to continue intervening in the FX market to dampen CHF strength. It follows...