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USD/CHF technical analysis: Intraday uptick falters just ahead of parity mark

  • Despite the intraday pullback, the pair has managed to hold above 200-DMA.
  • The near-term technical set-up support prospects for some dip-buying interest.

The USD/CHF pair failed to capitalize on its intraday positive move and faced rejection near the key parity mark, albeit has still managed to hold above the very important 200-day SMA.
 
Given the pair's repeated bounce from a support marked by the lower end of a two-month-old ascending trend-channel, the near-term bias remains tilted in favour of bullish traders.
 
Moreover, technical indicators on hourly charts have been losing positive momentum but maintained their bullish bias on the daily chart, supporting prospects for some dip-buying interest.
 
Hence, any meaningful slide might still be seen as an opportunity to initiate some fresh bullish positions near the mentioned trend-channel support, currently near the 0.9935 region.
 
Meanwhile, a sustained strength beyond the parity mark might prompt some technical buying and accelerate the momentum further towards the recent swing highs near the 1.0025-30 region.
 
The pair then could further extend the appreciating move, though is likely to confront stiff resistance near the top end of the mentioned trend-channel, currently near the 1.0100 round-figure mark.
 
On the flip side, a decisive break below the trend-channel support might negate any near-term bullish bias and turn the pair vulnerable to slide further towards the next major support near the 0.9860-55 region.

USD/CHF daily chart

fxsoriginal

USD/CHF

Overview
Today last price0.9975
Today Daily Change0.0004
Today Daily Change %0.04
Today daily open0.9971
 
Trends
Daily SMA200.9941
Daily SMA500.9871
Daily SMA1000.9881
Daily SMA2000.9954
 
Levels
Previous Daily High0.9984
Previous Daily Low0.9943
Previous Weekly High0.9991
Previous Weekly Low0.9904
Previous Monthly High0.9988
Previous Monthly Low0.9797
Daily Fibonacci 38.2%0.9959
Daily Fibonacci 61.8%0.9968
Daily Pivot Point S10.9948
Daily Pivot Point S20.9925
Daily Pivot Point S30.9907
Daily Pivot Point R10.9989
Daily Pivot Point R21.0007
Daily Pivot Point R31.003

Author

Haresh Menghani

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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