USD/CHF extends the previous day’s recovery. A sustained break of the short-term descending trend line, bullish MACD favor further upside. A five-week-old horizontal resistance remains as the tough upside barrier. USD/CHF holds on to recovery gains with 0.10% upside to 0.9672 ahead of the European session on Tuesday. The pair recently crossed a four-day-old falling trend line while also clearing 23.6% Fibonacci retracement of its December 24, 2019, to January 16, 2020 fall. With this, prices are likely to extend the latest pullback towards 38.2% Fibonacci retracement level around 0.9700 whereas 50% and 61.8% Fibonacci retracements around 0.9720 and 0.9750 could please the bulls afterward. However, a horizontal resistance from December 27 near 0.9768/63 will keep the upside beyond 0.9750 in check. Meanwhile, 0.9630 holds the key to the pair’s drop towards the yearly bottom of 0.9613 and 0.9600 round-figure. USD/CHF four-hour chart Trend: Recovery expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Today: Risk recovers despite rising China’s coronavirus death toll, Aussie cheers RBA’s status-quo FX Street 2 years USD/CHF extends the previous day’s recovery. A sustained break of the short-term descending trend line, bullish MACD favor further upside. A five-week-old horizontal resistance remains as the tough upside barrier. USD/CHF holds on to recovery gains with 0.10% upside to 0.9672 ahead of the European session on Tuesday. The pair recently crossed a four-day-old falling trend line while also clearing 23.6% Fibonacci retracement of its December 24, 2019, to January 16, 2020 fall. With this, prices are likely to extend the latest pullback towards 38.2% Fibonacci retracement level around 0.9700 whereas 50% and 61.8% Fibonacci retracements around 0.9720 and 0.9750… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
