“¢ The pair built on last week’s goodish bounce from the very important 200-day SMA and continued gaining positive traction for the fourth consecutive session.
“¢ The momentum assisted the pair to finally break through a key psychological barrier and climb further beyond the parity mark to test the highest level since mid-November.
“¢ Technical indicators on the daily chart have just started gaining positive momentum, though are already pointing to slightly overbought conditions on hourly charts.
“¢ Hence, it would be prudent to wait for a near-term consolidation or a minor pull-back before positioning for an extension of the ongoing strong positive momentum.
USD/CHF daily chart
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USD/CHF
Overview:
Today Last Price: 1.0014
Today Daily change %: 0.32%
Today Daily Open: 0.9982
Trends:
Daily SMA20: 0.991
Daily SMA50: 0.9913
Daily SMA100: 0.9917
Daily SMA200: 0.9907
Levels:
Previous Daily High: 0.9995
Previous Daily Low: 0.9943
Previous Weekly High: 0.9996
Previous Weekly Low: 0.9905
Previous Monthly High: 0.9996
Previous Monthly Low: 0.9716
Daily Fibonacci 38.2%: 0.9975
Daily Fibonacci 61.8%: 0.9963
Daily Pivot Point S1: 0.9951
Daily Pivot Point S2: 0.9921
Daily Pivot Point S3: 0.9899
Daily Pivot Point R1: 1.0003
Daily Pivot Point R2: 1.0025
Daily Pivot Point R3: 1.0056
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