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USD/CHF technical analysis: Bull in control above 21-day EMA, short-term rising support-line

  • USD/CHF remains modestly changed above 13-day-old rising trend-line, 21-day EMA.
  • An ascending trend-line from August 13 adds to the support.
  • August month top, 61.8% Fibonacci retracement level challenge buyers.
The USD/CHF pair’s failure to provide a decisive break above August high seems to not disappoint buyers, even for short-term, unless the quote trades below key support-confluence. Prices seesaw around 0.9910 while heading into the European open on Monday.

The 0.9892/0.9900 area including 21-day exponential moving average (EMA) and a rising trend-line since September 04 acts as near-term key support to watch as the break of which could drag prices to 38.2% Fibonacci retracement of April-August declines, at 0.9880.

Pair’s south-run below 0.9880 can avail 0.9840 and nearly six-week-long ascending support-line around 0.9820 as rest-points.

On the upside, the recent high of 0.9985 and 61.8% Fibonacci retracement level of 1.0017 keep challenging buyers.

USD/CHF daily chart, April-October 2019

(see more posts on USD/CHF, )
USD/CHF daily chart, April-October 2019

- Click to enlarge

Trend: bullish

 

Full story here
Anil Panchal
Anil Panchal, has seven years of experience as a commodity research analyst and six years' rich knowledge of Forex markets. He holds a masters degree in Business Administration with Finance being specialization.
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Permanent link to this article: https://snbchf.com/2019/09/panchal-usd-chf-technical-analysis-bull-control-21-ema-short-term-rising-support-line/

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