- Immediate trend-line resistance questions the USD/CHF pair’s rise past-23.6% Fibonacci retracement.
- 4H 100MA can please buyers during further upside.
Despite breaking 23.6% Fibonacci retracement of late May-June downpour, the USD/CHF pair struggles to clear near-term resistance-line as it trades near 0.9804 during early Monday.
Should the pair successfully rise over 0.9805/06 trend-line resistance stretched since June 21, early-June lows surrounding 0.9855/60 and 100-bar moving average on 4-hour chart at 0.9870 could be on buyers’ radar.
Given the pair’s extended rise past-0.9870, 4H 200MA level of 0.9953 can please the bulls.
Meanwhile, quote’s slip beneath the 23.6% Fibonacci retracement level of 0.9790 can recall 0.9770 mark on the chart.
However, nearby ascending support-line at 0.9748 can confine the pair’s additional declines, if not then June month low near 0.9693 may flash on bears’ radar.
USD/CHF 4-Hour chart
Trend: Pullback expected
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