USD/CHF Price Analysis: Bulls can ignore recent pullback towards 0.9500

USD/CHF retreats from weekly high to snap four-day uptrend.
Previous resistance line of an immediate triangle, bullish MACD signals favor buyers.
Convergence of 50-day and 100-day EMA challenges the upside moves.

Anil Panchal FXStreet

USD/CHF takes offers to refresh the intraday low near 0.9520 during early Wednesday in Europe. In doing so, the Swiss Franc (CHF) pair prints the first daily loss in five while reversing from the highest levels in one week.

Even so, the resistance-turned-support line from November 11, close to 0.9520, restricts the USD/CHF pair’s immediate downside.

Also keeping the pair buyers hopeful are the stronger bullish signals from the Moving Average Convergence and Divergence (MACD) indicator.

It should be noted that the 0.9500 threshold and a fortnight-old ascending support line, near 0.9405, will precede the monthly low of .9356 to challenge the USD/CHF bears afterward.

Meanwhile, recovery moves could aim for the 0.9600 round figure but a convergence of the 50-day and 100-day Exponential Moving Average (EMA) around 0.9700-05 appears a tough nut to crack for the USD/CHF bulls.

In a case where the pair successfully crosses the 0.9705 hurdle, the late October lows near 0.9840 will be in focus.

Overall, USD/CHF is expected to stay in recovery mode unless refreshing the monthly low. However, the upside momentum appears limited.

USD/CHF: Daily chart

Trend: Bullish

Additional important levels

Overview
Today last price	0.9526
Today Daily Change	-0.0014
Today Daily Change %	-0.15%
Today daily open	0.954

Trends
Daily SMA20	0.9629
Daily SMA50	0.9803
Daily SMA100	0.9719
Daily SMA200	0.9639

Levels
Previous Daily High	0.9546
Previous Daily Low	0.946
Previous Weekly High	0.9598
Previous Weekly Low	0.9388
Previous Monthly High	1.0148
Previous Monthly Low	0.9781
Daily Fibonacci 38.2%	0.9513
Daily Fibonacci 61.8%	0.9493
Daily Pivot Point S1	0.9485
Daily Pivot Point S2	0.943
Daily Pivot Point S3	0.94
Daily Pivot Point R1	0.957
Daily Pivot Point R2	0.9601
Daily Pivot Point R3	0.9656

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD holds steady above 1.1850 in quiet session

EUR/USD stays defensive but holds 1.1850 amid quiet markets in the European hours on Monday. The US Dollar is struggling for direction due to thin liquidity conditions as US markets are closed in observance of Presidents' Day holiday.

GBP/USD flat lines near 1.3650 ahead of UK and US data

GBP/USD kicks off a new week on a subdued note and oscillates in a narrow range near 1.3650 on Monday. The mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important data releases from the UK and the US.

Gold corrects lower, tries to stabilize above $5,000

Gold started the week under bearish pressure and declined to the $4,960 area before staging a modest rebound. As trading volumes remain thin with the US financial markets remaining closed on Presidents' Day holiday, XAU/USD looks to stabilize above $5,000 ahead of this week's key data releases.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Monero Price Forecast: XMR risks a drop below $300 under mounting bearish pressure

Monero (XMR) starts the week under pressure, recording a 4% decline at press time on Monday after a 7% drop the previous day, putting the $300 support zone in focus.