USD/CHF Technical Analysis: Consolidates Friday’s bullish breakthrough a descending trend-line
• The pair was seen oscillating in a narrow trading band around 50-day SMA and consolidated Friday's bullish breakthrough a short-term descending trend-line.
• With technical indicators on the daily chart yet to catch up with the positive momentum, any subsequent up-move might confront fresh supply near the parity mark.
• The mentioned hurdle coincides with 50% Fibonacci retracement level of the 1.0129-0.9863 recent downfall and should act as a key trigger for bullish traders.
• Meanwhile, any meaningful dips are likely to get bought into near the descending trend-line resistance break-point, now turned support, currently near mid-0.9900s.
USD/CHF daily chart
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USD/CHF
Overview:
Today Last Price: 0.9975
Today Daily change: -5.0 pips
Today Daily change %: -0.0501%
Today Daily Open: 0.998
Trends:
Previous Daily SMA20: 0.9953
Previous Daily SMA50: 0.9977
Previous Daily SMA100: 0.989
Previous Daily SMA200: 0.9853
Levels:
Previous Daily High: 0.9984
Previous Daily Low: 0.9927
Previous Weekly High: 0.9984
Previous Weekly Low: 0.9862
Previous Monthly High: 1.0129
Previous Monthly Low: 0.9908
Previous Daily Fibonacci 38.2%: 0.9962
Previous Daily Fibonacci 61.8%: 0.9949
Previous Daily Pivot Point S1: 0.9943
Previous Daily Pivot Point S2: 0.9906
Previous Daily Pivot Point S3: 0.9886
Previous Daily Pivot Point R1: 1
Previous Daily Pivot Point R2: 1.002
Previous Daily Pivot Point R3: 1.0057