Previous post Next post

USD/CHF Price Analysis: 200-day EMA questions pullback from 0.9770/75 support confluence

 

  • USD/CHF bounces off the short-term key support confluence comprising 21 and 50-day EMA as well as 38.2% Fibonacci retracement.
  • 200-day EMA, 61.8% Fibonacci challenge buyers amid bullish MACD.

USD/CHF registers 0.21% gains while taking the bids around 0.9805 during the early Monday. The pair recently reversed from 21/50-day EMA and 38.2% Fibonacci retracement of October 2019 to January 2020 declines. Also supporting the pullback are bullish signals from MACD.

That said, the pair now aims to confront 50% Fibonacci retracement level of 0.9820 whereas a 200-day EMA level of 0.9845 becomes the tough nut to crack for buyers afterward.

Should there be a sustained run-up beyond 0.9845, 61.8% Fibonacci retracement level of 0.9870 and 0.9900 will be on the bulls’ radars.

Alternatively, the pair’s daily closing below 0.9770/75 support confluence can divert sellers towards 0.9750/45 ahead of highlighting a 23.6% Fibonacci retracement level of 0.9710.

USD/CHF daily chart

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

- Click to enlarge

Trend: Pullback expected

 

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: https://snbchf.com/2020/02/panchal-usd-chf-price-analysis-200-ema-questions-pullback-9770-75-support-confluence/

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Your email address will not be published.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.