#USDCHF @ 0.96910 -imp levels: Price Analysis: Bulls flex muscles to aim for fresh monthly high near 0.9700
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The pair currently trades last at 0.96910.
The previous day high was 0.967 while the previous day low was 0.9578. The daily 38.2% Fib levels comes at 0.9634, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9613, expected to provide support.
USD/CHF picks up bids to refresh one-week high around 0.9685, after crossing the 100-DMA and a downward sloping resistance line from mid-June, during Monday’s Asian session.
Given the firmer RSI (14), not overbought, as well as the bullish MACD signals, the USD/CHF upside is likely to set for refreshing the monthly high, currently around 0.9695.
In doing so, the Swiss currency (CHF) pair may aim for the 0.9700 threshold before challenging the 50% Fibonacci retracement of the June-August downside, near 0.9715.
Following that, the USD/CHF bulls could aim for the 61.8% Fibonacci retracement level near 0.9795, as well as the 0.9800 round figure, before challenging the previous monthly peak of 0.9885.
Meanwhile, the 100-DMA and the resistance-turned-support line from June could restrict the short-term downside of the pair to around 0.9665 and 0.9640 respectively. Also acting as the downside filter is the 50-DMA support near 0.9620.
In a case where the USD/CHF prices drop below the 50-DMA, the latest swing low of around 0.9575 could lure the bears.
Overall, USD/CHF buyers are likely to keep the reins but the upside momentum may appear slow.
Trend: Further upside expected
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.9685 at the time of writing. Pair opened at 0.9658 and is trading with a change of 0.28% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.9685 |
| 1 | Today Daily Change | 0.0027 |
| 2 | Today Daily Change % | 0.28% |
| 3 | Today daily open | 0.9658 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 0.9554, 50 SMA 0.962, 100 SMA @ 0.9663 and 200 SMA @ 0.945.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.9554 |
| 1 | Daily SMA50 | 0.9620 |
| 2 | Daily SMA100 | 0.9663 |
| 3 | Daily SMA200 | 0.9450 |
The previous day high was 0.967 while the previous day low was 0.9578. The daily 38.2% Fib levels comes at 0.9634, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9613, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.96, 0.9543, 0.9508
- Pivot resistance is noted at 0.9692, 0.9727, 0.9784
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.9670 |
| Previous Daily Low | 0.9578 |
| Previous Weekly High | 0.9692 |
| Previous Weekly Low | 0.9574 |
| Previous Monthly High | 0.9886 |
| Previous Monthly Low | 0.9502 |
| Daily Fibonacci 38.2% | 0.9634 |
| Daily Fibonacci 61.8% | 0.9613 |
| Daily Pivot Point S1 | 0.9600 |
| Daily Pivot Point S2 | 0.9543 |
| Daily Pivot Point S3 | 0.9508 |
| Daily Pivot Point R1 | 0.9692 |
| Daily Pivot Point R2 | 0.9727 |
| Daily Pivot Point R3 | 0.9784 |
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