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USD/CHF Price Analysis: Carries reversal from weekly support line towards 0.9700

USD/CHF Price Analysis: Carries reversal from weekly support line towards 0.9700

  • USD/CHF buyers keep the upside momentum intact, though at a lesser pace.
  • A confluence of a three-week-old falling trend line, 23.6% Fibonacci retracement will question recovery moves.
  • The bears can aim for the monthly low after breaking nearby support trend line.

USD/CHF rises so 0.9685, gains 0.03% on a day, during the pre-European session on Thursday.

The pair bounced off a one-week-old support line the previous day, which in turn propels the buyers towards 0.9700 round-figure.

Though, a confluence of a three-week-old falling trend line and 23.6% Fibonacci retracement of March month upside, around 0.9730, followed by a 200-day SMA level of 0.9785, could challenge the bulls then after.

Meanwhile, a daily closing below 0.9650 support line can push sellers to recall 0.9600 round-figure whereas monthly low near 0.9590/85 may limit the additional downside of the pair.

 

USD/CHF daily chart

Trend: Sideways

ADDITIONAL IMPORTANT LEVELS

OVERVIEW
Today last price 0.9687
Today Daily Change 5 pips
Today Daily Change % 0.05%
Today daily open 0.9682
 
TRENDS
Daily SMA20 0.9699
Daily SMA50 0.9705
Daily SMA100 0.9686
Daily SMA200 0.9784
 
LEVELS
Previous Daily High 0.9728
Previous Daily Low 0.9652
Previous Weekly High 0.9761
Previous Weekly Low 0.9638
Previous Monthly High 0.9803
Previous Monthly Low 0.9595
Daily Fibonacci 38.2% 0.9699
Daily Fibonacci 61.8% 0.9681
Daily Pivot Point S1 0.9646
Daily Pivot Point S2 0.9611
Daily Pivot Point S3 0.957
Daily Pivot Point R1 0.9723
Daily Pivot Point R2 0.9764
Daily Pivot Point R3 0.9799

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