The USDCHF currency pair, currently trading at 0.88331, is facing difficulties in continuing its strong gains from the previous day, as it awaits important economic data from Switzerland and the United States. According to the analysis by @nehcap, there is a belief that there may be more upward movement in the future.
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- USD/CHF struggles to extend the previous day’s strong gains ahead of top-tier Swiss, US data.
The pair currently trades last at 0.88331.
The previous day high was 0.8846 while the previous day low was 0.8772. The daily 38.2% Fib levels comes at 0.8818, expected to provide support. Similarly, the daily 61.8% fib level is at 0.88, expected to provide support.
USD/CHF bulls attack the key resistance surrounding 0.8840 heading into Friday’s European session as they wait for Swiss Consumer Price Index (CPI) and the US employment data for August. In doing so, the Loonie pair defends the previous day’s rebound from the key moving averages while portraying the market’s cautious mood ahead of the top-tier data/events.
That said, a successful rebound from the convergence of the 21-DMA and 50-DMA, around 0.8790–80 by the press time, joins the bullish MACD signals to keep the buyers hopeful as they poke a downward-sloping resistance line from early March, close to 0.8840 at the latest.
It’s worth noting, however, that the previous monthly high of around 0.8880 and June’s bottom surrounding the 0.8900 threshold are some extra checks for the USD/CHF bulls before giving them control.
On the flip side, a daily closing below the stated DMA confluence around 0.8790–80 could recall the USD/CHF bears.
However, a five-week-long rising support line close to 0.8750 and the late July swing high of around 0.8700 will challenge the pair sellers ahead of directing them to the yearly low marked in July around 0.8550.
Trend: Further upside expected
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.8833 at the time of writing. Pair opened at 0.8834 and is trading with a change of -0.01% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8833 |
| 1 | Today Daily Change | -0.0001 |
| 2 | Today Daily Change % | -0.01% |
| 3 | Today daily open | 0.8834 |
The pair is trading above its 20 Daily moving average @ 0.879, above its 50 Daily moving average @ 0.8786 , below its 100 Daily moving average @ 0.8882 and below its 200 Daily moving average @ 0.907
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8790 |
| 1 | Daily SMA50 | 0.8786 |
| 2 | Daily SMA100 | 0.8882 |
| 3 | Daily SMA200 | 0.9070 |
The previous day high was 0.8846 while the previous day low was 0.8772. The daily 38.2% Fib levels comes at 0.8818, expected to provide support. Similarly, the daily 61.8% fib level is at 0.88, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.8788, 0.8742, 0.8714
- Pivot resistance is noted at 0.8863, 0.8892, 0.8938
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8846 |
| Previous Daily Low | 0.8772 |
| Previous Weekly High | 0.8876 |
| Previous Weekly Low | 0.8760 |
| Previous Monthly High | 0.8876 |
| Previous Monthly Low | 0.8690 |
| Daily Fibonacci 38.2% | 0.8818 |
| Daily Fibonacci 61.8% | 0.8800 |
| Daily Pivot Point S1 | 0.8788 |
| Daily Pivot Point S2 | 0.8742 |
| Daily Pivot Point S3 | 0.8714 |
| Daily Pivot Point R1 | 0.8863 |
| Daily Pivot Point R2 | 0.8892 |
| Daily Pivot Point R3 | 0.8938 |
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