Home USD/CHF technical analysis: 1.0095/1.0100 acts as immediate upside barrier
FXStreet News

USD/CHF technical analysis: 1.0095/1.0100 acts as immediate upside barrier

  • The latest failure to clear 1.0095-1.0100 highlights the pair’s weakness.
  • 1.0050 seems strong downside support.

Even after bouncing off 1.0055, the USD/CHF pair currently trades near 1.0085 while heading into Europe open on Thursday.

The quote has been finding it difficult to cross 1.0095 – 1.0100 horizontal resistance since the week-start, making it an important upside barrier, a break of which can propel prices to 1.0130 and then to 61.8% Fibonacci retracement of latest downturn, at 1.0160.

Given the buyers’ dominance above 1.0160, 1.0210 and 1.0230 could become their favorites.

On the downside, 1.0075 and 1.0050 may limit nearby declines, a break of which highlights 100-day simple moving average (SMA) on the daily chart around 1.0010.

Should there be additional south-run under 1.0010, 200-day SMA near 0.9950 may gain market attention.

USD/CHF hourly chart

Trend: Pullback 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.