#USDCHF @ 0.99943 is set to finish the week with losses of 0.45%. (Pivot Orderbook analysis)

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• USD/CHF is set to finish the week with losses of 0.45%.
• Failure to reclaim 1.0027 would confirm the USD/CHF rising wedge break, which would target the 200-day EMA at 0.9567.

The pair currently trades last at 0.99943.

The previous day high was 1.0069 while the previous day low was 0.9995. The daily 38.2% Fib levels comes at 1.0023, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.004, expected to provide resistance.

USD/CHF retraces from daily highs reached in the North American session around 1.0147 but trimmed its gains, plunging below 1.0000 towards its daily low at 0.9961, as the Japanese government and the Bank of Japan (BoJ) recognized intervening in the FX markets, propelling the yen a headwind for the USD/CHF. At the time of writing, the USD/CHF is trading at 1.0003, clinging to parity.

The USD/CHF daily chart illustrates the pair broke above the top-trendline of a bearish rising wedge, though retraced within, on the BoJ intervention. As the BoJ hit the greenback, the USD/CHF tumbled below the bottom-trendline of the rising wedge, opening the door for further losses. Albeit the USD/CHF trimmed some of its losses, the major remains below the previously-mentioned trendline. So further downward action is warranted.

Therefore, the USD/CHF first support would be the parity. Break below will immediately expose the October 21 daily low at 0.9961, followed by the 20-day Exponential Moving Average (EMA) at 0.9928, ahead of 0.9900.

On the other hand, if the USD/CHF reclaims 1.0027, it would exacerbate a re-test of 1.0100, as buyers target the YTD high at 1.0147.

Technical Levels: Supports and Resistances

USDCHF currently trading at 1.001 at the time of writing. Pair opened at 1.0032 and is trading with a change of -0.22 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 0.9922, 50 SMA 0.9761, 100 SMA @ 0.9716 and 200 SMA @ 0.9567.

The previous day high was 1.0069 while the previous day low was 0.9995. The daily 38.2% Fib levels comes at 1.0023, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.004, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9995, 0.9958, 0.9921
• Pivot resistance is noted at 1.0069, 1.0106, 1.0143

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