#USDCHF @ 0.90465 Price Analysis: Retreats from monthly high below 0.9100 within rising wedge, @nehcap view: Pullback expected (Pivot Orderbook analysis)
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The pair currently trades last at 0.90465.
The previous day high was 0.9073 while the previous day low was 0.9038. The daily 38.2% Fib levels comes at 0.906, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9051, expected to provide resistance.
USD/CHF takes offers to refresh the intraday low near 0.9040 as it prints the first daily loss in four during early Friday. In doing so, the Swiss Franc pair retreats from the resistance line of a three-week-old rising wedge bearish chart formation.
It’s worth noting, however, that the MACD indicator flashes bullish signals and the RSI (14) line is also above the 50.0 level, which in turn suggests the USD/CHF pair’s bullish momentum strength and keeps the bear’s off the table.
Also challenging the USD/CHF sellers is the 0.9000 support confluence comprising the 50-DMA and bottom line of the aforementioned wedge.
In a case where the USD/CHF price manages to provide a daily close below the 0.9000 mark, it becomes theoretically vulnerable to renewing the yearly low by dropping to the 0.8750 mark.
That said, the multiple levels around 0.8860-50 and the monthly low of bear 0.8820 may prod the sellers.
Meanwhile, the current place of the stated rising wedge’s top line, near 0.9075, precedes the 0.9100 round figure and April 10 peak of around 0.9115 to challenge the USD/CHF buyers.
Following that, a run-up towards the 61.8% Fibonacci retracement level of March-May downside near 0.9205 can’t be ruled out.
Trend: Pullback expected
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.9047 at the time of writing. Pair opened at 0.9057 and is trading with a change of -0.11% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.9047 |
| 1 | Today Daily Change | -0.0010 |
| 2 | Today Daily Change % | -0.11% |
| 3 | Today daily open | 0.9057 |
The pair is trading above its 20 Daily moving average @ 0.8956, above its 50 Daily moving average @ 0.9019 , below its 100 Daily moving average @ 0.9139 and below its 200 Daily moving average @ 0.9393
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8956 |
| 1 | Daily SMA50 | 0.9019 |
| 2 | Daily SMA100 | 0.9139 |
| 3 | Daily SMA200 | 0.9393 |
The previous day high was 0.9073 while the previous day low was 0.9038. The daily 38.2% Fib levels comes at 0.906, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9051, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.9039, 0.902, 0.9003
- Pivot resistance is noted at 0.9074, 0.9092, 0.911
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.9073 |
| Previous Daily Low | 0.9038 |
| Previous Weekly High | 0.9063 |
| Previous Weekly Low | 0.8920 |
| Previous Monthly High | 0.9198 |
| Previous Monthly Low | 0.8852 |
| Daily Fibonacci 38.2% | 0.9060 |
| Daily Fibonacci 61.8% | 0.9051 |
| Daily Pivot Point S1 | 0.9039 |
| Daily Pivot Point S2 | 0.9020 |
| Daily Pivot Point S3 | 0.9003 |
| Daily Pivot Point R1 | 0.9074 |
| Daily Pivot Point R2 | 0.9092 |
| Daily Pivot Point R3 | 0.9110 |
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