Previous post Next post

USD/CHF Price Analysis: Pullback from 50-day EMA shifts focus to weekly support trendline


  • USD/CHF slips from a two-week high.
  • 61.8% Fibonacci retracement, 200-day EMA add to the resistances.

While extending its U-turn from 50-day EMA, USD/CHF drops 0.30% to 0.9583 ahead of the European session on Wednesday.

The pair currently declines towards 38.2% Fibonacci retracement of its fall from November 2019, at 0.9500. However, an upward sloping trend line since March 09, near 0.9470 now, could restrict further downside.

In a case where the bears dominate past-0.9470, 0.9400 and 0.9320 will offer intermediate halts to the pair’s southward trajectory towards the monthly low around 0.9180.

Meanwhile, a daily closing beyond 50-day EMA level of 0.9650 needs to overcome 61.8% of Fibonacci retracement, close to 0.9700, ahead of confronting 200-day EMA figures surrounding 0.9800.

Should there be a clear run-up past-0.9800, November month highs close to 1.0023 may lure the bulls.

USD/CHF daily chart

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

- Click to enlarge

Trend: Pullback expected


Full story here Are you the author?
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: ,

🤞 Don’t miss posts anymore!
Subscribe to our newsletter!

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Your email address will not be published.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.