#USDCHF @ 0.96150 picks up bids to reverse the previous day’s pullback from the key DMA., @nehcap view: Further weakness expected (Pivot Orderbook analysis)
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- USD/CHF picks up bids to reverse the previous day’s pullback from the key DMA.
- Bearish MACD signals, failures to cross 50-DMA favor sellers.
- Buyers need to cross the 61.8% Fibonacci retracement level to retake control.
The pair currently trades last at 0.96150.
The previous day high was 0.9637 while the previous day low was 0.9589. The daily 38.2% Fib levels comes at 0.9619, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9607, expected to provide support.
USD/CHF redirects the upside momentum towards the 50-DMA hurdle while picking up bids near 0.9620 during Friday’s Asian session.
In doing so, the Swiss currency (CHF) pair defends the previous day’s rebound from the 38.2% Fibonacci retracement level (Fibo.) of July-August downside, around 0.9570, to aim for the 50-DMA resistance, close to 0.9640 by the press time.
However, the bearish MACD signals and steady RSI suggest another failure of the USD/CHF to cross the immediate DMA resistance.
Even if the quote rises past 0.9640 hurdle, the 61.8% Fibonacci retracement level around 0.9690 and the 0.9700 threshold could test the USD/CHF bulls.
Alternatively, the downside break of the 38.2% Fibo. close to 0.9570 could quickly direct the quote towards the 0.9490-80 support confluence including the 200-DMA and the 23.6% Fibonacci retracement level.
In a case where the USD/CHF remains weak past 0.9480, the odds of witnessing a slump towards the previous monthly low of 0.9370 can’t be ruled out.
Trend: Further weakness expected
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.962 at the time of writing. Pair opened at 0.9622 and is trading with a change of -0.02% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.962 |
| 1 | Today Daily Change | -0.0002 |
| 2 | Today Daily Change % | -0.02% |
| 3 | Today daily open | 0.9622 |
The pair is trading below its 20 Daily moving average @ 0.9686, below its 50 Daily moving average @ 0.9647 , below its 100 Daily moving average @ 0.9693 and above its 200 Daily moving average @ 0.948
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.9686 |
| 1 | Daily SMA50 | 0.9647 |
| 2 | Daily SMA100 | 0.9693 |
| 3 | Daily SMA200 | 0.9480 |
The previous day high was 0.9637 while the previous day low was 0.9589. The daily 38.2% Fib levels comes at 0.9619, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9607, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.9595, 0.9568, 0.9548
- Pivot resistance is noted at 0.9643, 0.9663, 0.969
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.9637 |
| Previous Daily Low | 0.9589 |
| Previous Weekly High | 0.9870 |
| Previous Weekly Low | 0.9547 |
| Previous Monthly High | 0.9808 |
| Previous Monthly Low | 0.9371 |
| Daily Fibonacci 38.2% | 0.9619 |
| Daily Fibonacci 61.8% | 0.9607 |
| Daily Pivot Point S1 | 0.9595 |
| Daily Pivot Point S2 | 0.9568 |
| Daily Pivot Point S3 | 0.9548 |
| Daily Pivot Point R1 | 0.9643 |
| Daily Pivot Point R2 | 0.9663 |
| Daily Pivot Point R3 | 0.9690 |
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