The USDCHF pair, currently trading at 0.88914, is experiencing fluctuations at its highest point in two months but is currently lacking momentum. According to @nehcap, a pullback is anticipated.
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]
- USD/CHF seesaws at the highest level in two months, lacks momentum of late.
The pair currently trades last at 0.88914.
The previous day high was 0.8903 while the previous day low was 0.8842. The daily 38.2% Fib levels comes at 0.888, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8865, expected to provide support.
USD/CHF retreats to 0.8895 after refreshing a two-month high the previous day, mostly unchanged during early Wednesday. In doing so, the Swiss Franc (CHF) pair portrays the market’s cautious mood ahead of the US ISM Services PMI for August and the final readings of the US S&P Global PMIs for the said month.
That said, a daily closing beyond the 100-DMA, around 0.8875 at the latest, joins the bullish MACD signals to keep the USD/CHF buyers hopeful despite the latest inaction.
Apart from the 100-DMA, the previous resistance line from March, surrounding 0.8810, as well as a seven-week-old rising support line of around .8770 will also challenge the USD/CHF pair sellers before giving them control.
It’s worth noting, however, that the overbought RSI suggests the pullback moves of the USD/CHF pair but the downside room appears limited.
On the contrary, the 0.9000 psychological magnet and late June swing high of around 0.9015 lure the short-term USD/CHF pair buyers ahead of the 200-DMA hurdle of 0.9057.
Following that, a descending resistance line from November 2022, near 0.9165 at the latest, will check the USD/CHF bulls prior to highlighting the yearly high marked in March around 0.9440.
Trend: Pullback expected
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.8894 at the time of writing. Pair opened at 0.8895 and is trading with a change of -0.01% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8894 |
| 1 | Today Daily Change | -0.0001 |
| 2 | Today Daily Change % | -0.01% |
| 3 | Today daily open | 0.8895 |
The pair is trading above its 20 Daily moving average @ 0.8809, above its 50 Daily moving average @ 0.878 , above its 100 Daily moving average @ 0.888 and below its 200 Daily moving average @ 0.9061
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8809 |
| 1 | Daily SMA50 | 0.8780 |
| 2 | Daily SMA100 | 0.8880 |
| 3 | Daily SMA200 | 0.9061 |
The previous day high was 0.8903 while the previous day low was 0.8842. The daily 38.2% Fib levels comes at 0.888, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8865, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.8857, 0.8819, 0.8796
- Pivot resistance is noted at 0.8918, 0.8941, 0.8979
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8903 |
| Previous Daily Low | 0.8842 |
| Previous Weekly High | 0.8865 |
| Previous Weekly Low | 0.8745 |
| Previous Monthly High | 0.8876 |
| Previous Monthly Low | 0.8690 |
| Daily Fibonacci 38.2% | 0.8880 |
| Daily Fibonacci 61.8% | 0.8865 |
| Daily Pivot Point S1 | 0.8857 |
| Daily Pivot Point S2 | 0.8819 |
| Daily Pivot Point S3 | 0.8796 |
| Daily Pivot Point R1 | 0.8918 |
| Daily Pivot Point R2 | 0.8941 |
| Daily Pivot Point R3 | 0.8979 |
[/s2If]
Download Nehcap EAWe have two EAs that are operational on our LIVE accounts.
- EA-FIX: Check out the details here. Download EA-FIX . EA-FIX is a non-grid HFT scalper.
- EA-GROWTH: High quality low dd EA using trend grids. Download EA_GROWTHJoin Our Telegram Group
