USD/CHF Technical Analysis: Bears likely to target over 1-month old ascending channel support


   •  The pair extended last week’s rejection slide from the 1.0100 handle and dropped to fresh one-week lows in the last hour amid a follow-through USD retracement.

   •  Meanwhile, the attempted intraday bounce failed to sustain above 200-hour SMA and the subsequent slide clearly points to increasing selling pressure at higher levels.

   •  Technical indicators on hourly charts have been gaining negative momentum and suggest a further decline to over one-month-old ascending trend-channel support.

   •  However, oscillators on the daily chart have managed to maintain their bullish bias and support prospects for some dip buying interest near the mentioned support.

   •  Hence, it would be prudent to wait for a convincing break below the channel support before confirming that the pair might have already topped out in the near-term.

USD/CHF 1-hourly chart

Technical levels to watch


    Today Last Price: 1.003
    Today Daily change %: -0.19%
    Today Daily Open: 1.0049
    Daily SMA20: 0.9991
    Daily SMA50: 0.9927
    Daily SMA100: 0.9949
    Daily SMA200: 0.9909
    Previous Daily High: 1.009
    Previous Daily Low: 1.0039
    Previous Weekly High: 1.01
    Previous Weekly Low: 0.9988
    Previous Monthly High: 0.9996
    Previous Monthly Low: 0.9716
    Daily Fibonacci 38.2%: 1.0059
    Daily Fibonacci 61.8%: 1.0071
    Daily Pivot Point S1: 1.0029
    Daily Pivot Point S2: 1.0009
    Daily Pivot Point S3: 0.9979
    Daily Pivot Point R1: 1.008
    Daily Pivot Point R2: 1.011
    Daily Pivot Point R3: 1.013


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