Previous post Next post

USD/CHF technical analysis: Clings to 23.6 percent Fibo, eyes on Swiss ZEW, Fed

  • USD/CHF stays above 21-day EMA amid bullish MACD.
  • A daily closing beyond the monthly trendline will trigger fresh upside.
Given the monthly falling resistance line and 21-day EMA confusing USD/CHF traders on a key day, the quote seesaws near 0.9940 during pre-European session on Wednesday.

Adding to the odds of pair’s run-up are bullish signals from the 12-bar Moving Average Convergence and Divergence (MACD) indicator. However, buyers need a sustained break above a descending trend line since October 03, at 0.9960, to take aim at 1.000 round-figure.

Meanwhile, pair’s declines below 21-day Exponential Moving Average (EMA) highlights the importance of 38.2% and 50% Fibonacci retracement levels of August-October upside, at 0.9885 and 0.9845 respectively.

Other than technical catalysts, traders will also be on the lookout for Swiss ZEW Expectations for October, forecast -6.8 versus -15.4, while the United States (US) Federal Reserve’s interest rate decision will also be the key to follow.

USD/CHF daily chart, August-November 2019

(see more posts on USD/CHF, )
USD/CHF daily chart, August-November 2019

- 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.
Previous post See more for 1.) FXStreet on SNB&CHF Next post
Tags: ,

Permanent link to this article:

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.