Broker of the Week Oanda - Read Full Review

Free Top Brokers Comparison Service

HELP ME CHOOSE START QUIZ

Drops back below 200-HMA, weekly support line in focus

[ad_1]

  • USD/CHF stays mildly offered after a failed attempt to cross the key moving average.
  • Sluggish MACD, RSI suggests downbeat momentum, bulls to have a bumpy road if at all return.

USD/CHF remains depressed around 0.8870, down 0.09% intraday, during early Wednesday. In doing so, the Swiss currency pair portrays a failed attempt to stay past-200-HMA despite staying above an ascending trend line from last Wednesday.

With the oscillators like RSI and MACD being sluggish, the failures to cross key moving average can drag the quote back to the stated support line, at 0.8870 now.

However, any further weakness will not hesitate to challenge 61.8% Fibonacci retracement of January 06-18 upside, near 0.8820.

During the quote’s weakness below 0.8820, the 0.8800 threshold and the monthly low near will lure the USD/CHF bears.

On the contrary, USD/CHF buyers’ return will be initially probed by the confluence of 200-HMA and 23.6% Fibonacci retracement level around 0.8886.

Though, any further upside beyond 0.8886 will have to cross an ascending trend line from January 11, near 0.8930 to the eye for the 0.9000 round-figure.

USD/CHF hourly chart

Trend: Pullback expected

 

[ad_2]

Source link

We will be happy to hear your thoughts

      Leave a reply

      Trading foreign exchange on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

      Advertiser Disclosure: Brokerspilot.com helps investors across the globe by spending over hours each month testing and researching online brokers.

      How do we make money? Our partners compensate us through paid advertising.

      While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site.

      Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.

      Disclaimer: It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective.

      While Brokerspilot.com has some data verified by industry participants, it can vary from time to time.

      Operating as an online business, this site may be compensated through third-party advertisers.

      Our receipt of such compensation shall not be construed as an endorsement or recommendation by Brokerspilot.com, nor shall it bias our reviews, analysis, and opinions.

      en_USEnglish
      Best Forex Brokers Reviews
      Logo
      Reset Password
      Compare items
      • Total (0)
      Compare
      0