“¢ The pair has been oscillating within a broader trading range over the past 24-hours or so, forming a rectangular chart pattern on the 1-hourly chart.
“¢ Given the recent up-move from over one-month lows, the consolidative price action could be categorized as a continuation pattern/a pause in the trend.
“¢ Moreover, the fact that the pair has now found acceptance above 200-hour SMA further support prospects for an extension of the recovery momentum.
“¢ However, technical indicators on the mentioned chart have failed to gather traction and seemed to be the only factor failing to inspire bullish traders.
“¢ Hence, it would be prudent to wait for a convincing break through the trading range resistance before positioning for any further near-term up-move.
USD/CHF 1-hourly chart
-636790027601060537.png)
USD/CHF
Overview:
Today Last Price: 0.9988
Today Daily change: 2.0 pips
Today Daily change %: 0.0200%
Today Daily Open: 0.9986
Trends:
Previous Daily SMA20: 1.0019
Previous Daily SMA50: 0.9927
Previous Daily SMA100: 0.9892
Previous Daily SMA200: 0.9817
Levels:
Previous Daily High: 1.0004
Previous Daily Low: 0.9975
Previous Weekly High: 1.0012
Previous Weekly Low: 0.9908
Previous Monthly High: 1.0096
Previous Monthly Low: 0.9801
Previous Daily Fibonacci 38.2%: 0.9986
Previous Daily Fibonacci 61.8%: 0.9993
Previous Daily Pivot Point S1: 0.9973
Previous Daily Pivot Point S2: 0.9959
Previous Daily Pivot Point S3: 0.9944
Previous Daily Pivot Point R1: 1.0002
Previous Daily Pivot Point R2: 1.0017
Previous Daily Pivot Point R3: 1.0031
Share
