USD/CHF nears multiple key upside barriers while trading close to August month high. A pullback towards 38.2% Fibonacci retracement can’t be denied but recovery seems to be less diluted unless breaking 0.9780. Not one but two key resistances restrict the USD/CHF pair’s recovery as it trades near 0.9920 while heading into Tuesday’s European open. The 100-day simple moving average (SMA) at 0.9930 acts as immediate resistance whereas the 0.9948/50 confluence, including 200-day SMA and 50% Fibonacci retracement of April-August downpour, raise bars for further upside. In a case where prices manage to conquer 0.9950 on a daily closing basis, August 01 top surrounding 0.9975 and 1.0000 psychological magnet could become buyers’ favorites ahead of 61.8% Fibonacci retracement of 1.0016. On the flip side, 38.2% Fibonacci retracement level of 0.9880 can lure sellers ahead of challenging them with 0.9840 and 0.9795 mark including 23.6% Fibonacci retracement. It should, however, be noted that odds of pair’s upside can’t be denied unless it drops below four-week-old rising trend-line, at 0.9780. USD/CHF daily 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. View All Post By FX Street FXStreet News share Read Next Chinese exports remain on the downside – UOB FX Street 4 years USD/CHF nears multiple key upside barriers while trading close to August month high. A pullback towards 38.2% Fibonacci retracement can't be denied but recovery seems to be less diluted unless breaking 0.9780. Not one but two key resistances restrict the USD/CHF pair's recovery as it trades near 0.9920 while heading into Tuesday's European open. The 100-day simple moving average (SMA) at 0.9930 acts as immediate resistance whereas the 0.9948/50 confluence, including 200-day SMA and 50% Fibonacci retracement of April-August downpour, raise bars for further upside. In a case where prices manage to conquer 0.9950 on a daily closing basis, August… 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.
