USD/CHF struggles around 38.2% Fibonacci retracement after declining to a three-week low. Bearish MACD favors further downpour to 0.9800/9795 support-zone. With its sustained trading below 50-day SMA, coupled with the bearish MACD, USD/CHF stays on the sellers’ radar even if it clings to 0.9880 during early Friday. The September 24 low nearing 0.9840 acts as immediate support for the pair while the previous month low and 23.6% Fibonacci retracement of April-August south-run, close to 0.9800/9795 support-zone, could restrict further downside. During the pair’s further weakness below 0.9795, 0.9715 and 0.9690 will become bears’ favorites. Should traders ignore a bearish signal from the 12-bar Moving Average Convergence and Divergence (MACD), they need to provide a daily closing beyond 50-day Simple Moving Average (SMA) surrounding 0.9885 to aim for last week’s low near 0.9905. However, odds of short-term weakness can’t be defied unless the pair rises back beyond 0.9947/50 confluence including a two-month-old rising trend line and 50% Fibonacci retracement. USD/CHF daily chart Trend: bearish 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 GBP/JPY technical analysis: Flashing red, eyes key support of 50-hour MA FX Street 3 years USD/CHF struggles around 38.2% Fibonacci retracement after declining to a three-week low. Bearish MACD favors further downpour to 0.9800/9795 support-zone. With its sustained trading below 50-day SMA, coupled with the bearish MACD, USD/CHF stays on the sellers' radar even if it clings to 0.9880 during early Friday. The September 24 low nearing 0.9840 acts as immediate support for the pair while the previous month low and 23.6% Fibonacci retracement of April-August south-run, close to 0.9800/9795 support-zone, could restrict further downside. During the pair's further weakness below 0.9795, 0.9715 and 0.9690 will become bears' favorites. Should traders ignore a bearish signal… 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.
