#USDCHF @ 0.95107 stays depressed after snapping six-day uptrend the previous day., @nehcap view: Further downside expected (Pivot Orderbook analysis)
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- USD/CHF stays depressed after snapping six-day uptrend the previous day.
- Clear break of one-week-old bearish channel, downbeat MACD signals favor sellers.
- 50-SMA, previous resistance line from November 03 challenge immediate downside.
The pair currently trades last at 0.95107.
The previous day high was 0.9598 while the previous day low was 0.9533. The daily 38.2% Fib levels comes at 0.9573, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9558, expected to provide resistance.
USD/CHF holds lower ground near 0.9515 following the first daily negative in seven.
The Swiss Franc (CHF) pair broke a one-week-old bullish channel the previous day and welcomed the bears. While adding strength to the downside bias are the recently bearish signals from the Moving Average Convergence and Divergence (MACD) indicator.
However, the 50-SMA level surrounding 0.9495 precedes the resistance-turned-support line from November 03, close to 0.9430 by the press time, to challenge the USD/CHF pair’s immediate declines.
Following that, the 0.9400 round figure and the monthly low surrounding 0.9355 should gain the market’s attention.
On the flip side, the aforementioned channel’s support line acts as an immediate resistance around 0.9530, a break of which could escalate the corrective bounce towards the channel’s top, near 0.9630.
Should the USD/CHF bulls manage to keep the reins, the November 11 swing high surrounding the 0.9900 threshold will be important to watch for the pair’s further upside momentum. If the pair remains firmer past 0.9900, the odds of its run-up towards the monthly high near 1.0150 can’t be ruled out.
Overall, USD/CHF is likely to refresh the monthly low unless rising back beyond the 0.9900 mark.
Trend: Further downside expected
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.9515 at the time of writing. Pair opened at 0.959 and is trading with a change of -0.78% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.9515 |
| 1 | Today Daily Change | -0.0075 |
| 2 | Today Daily Change % | -0.78% |
| 3 | Today daily open | 0.959 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9771, 50 SMA 0.9822, 100 SMA @ 0.9736 and 200 SMA @ 0.9631.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.9771 |
| 1 | Daily SMA50 | 0.9822 |
| 2 | Daily SMA100 | 0.9736 |
| 3 | Daily SMA200 | 0.9631 |
The previous day high was 0.9598 while the previous day low was 0.9533. The daily 38.2% Fib levels comes at 0.9573, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9558, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.9549, 0.9508, 0.9483
- Pivot resistance is noted at 0.9614, 0.9639, 0.968
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.9598 |
| Previous Daily Low | 0.9533 |
| Previous Weekly High | 0.9558 |
| Previous Weekly Low | 0.9357 |
| Previous Monthly High | 1.0148 |
| Previous Monthly Low | 0.9781 |
| Daily Fibonacci 38.2% | 0.9573 |
| Daily Fibonacci 61.8% | 0.9558 |
| Daily Pivot Point S1 | 0.9549 |
| Daily Pivot Point S2 | 0.9508 |
| Daily Pivot Point S3 | 0.9483 |
| Daily Pivot Point R1 | 0.9614 |
| Daily Pivot Point R2 | 0.9639 |
| Daily Pivot Point R3 | 0.9680 |
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