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USD/CHF technical analysis: Buyers’ exhaustion around 0.9985/90

  • USD/CHF repeatedly fails to cross 0.9985/90 area.
  • A two-month-old rising trend-line, 100-day EMA grabs sellers’ attention.
Repeated failures to rise past-0.9985/90 resistance-area drags USD/CHF to 0.9965 by the press time of early Tuesday.

The pair now witnesses pullback towards the two-month-old rising trend-line, at 0.9930, a break of which could further drag the quote to a 100-day Exponential Moving Average (EMA) level of 0.9910.

Though, pair’s declines beneath 0.9910 can take aim at September 24 low nearing 0.9845.

On the flip side, pair’s successful run-up beyond 0.9990 needs validation from 61.8% Fibonacci retracement of April-August declines, at 1.0016, in order to aim for 1.0100 mark.

USD/CHF daily chart, October 15

(see more posts on USD/CHF, )
USD/CHF daily chart, October 15

- Click to enlarge

Trend: sideways

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/2019/10/panchal-usd-chf-technical-analysis-buyers-exhaustion-9985-90/

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