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.

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

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