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USD/CHF Technical Analysis: Sellers remain in control, sustained weakness below parity mark awaited

   •  The pair extended its recent retracement slide from near four-month tops and remained under some selling pressure for the fifth session in the previous six.

   •  The pair has now moved on the verge of breaking through the key parity mark, also coinciding with 61.8% Fibonacci level of the 0.9926-1.0125 recent upsurge. 

   •  The fact that the pair remains well below its important intraday moving averages - 50, 100 & 200-hour SMAs, clearly points to further near-term depreciating move.

   •  Bearish oscillators on hourly/daily charts further add credence to the negative outlook and set the stage for a move towards testing the 0.9975 horizontal support.

   •  A follow-through selling has the potential to continue dragging the pair further towards challenging the very important 200-day SMA, around the 0.9920 region.

USD/CHF 1-hourly chart

USD/CHF

Overview:
    Today Last Price: 1
    Today Daily change: -12 pips
    Today Daily change %: -0.12%
    Today Daily Open: 1.0012
Trends:
    Daily SMA20: 1.003
    Daily SMA50: 0.9983
    Daily SMA100: 0.9971
    Daily SMA200: 0.9921
Levels:
    Previous Daily High: 1.0026
    Previous Daily Low: 0.9996
    Previous Weekly High: 1.012
    Previous Weekly Low: 1.001
    Previous Monthly High: 1.01
    Previous Monthly Low: 0.9921
    Daily Fibonacci 38.2%: 1.0008
    Daily Fibonacci 61.8%: 1.0015
    Daily Pivot Point S1: 0.9996
    Daily Pivot Point S2: 0.9981
    Daily Pivot Point S3: 0.9966
    Daily Pivot Point R1: 1.0027
    Daily Pivot Point R2: 1.0042
    Daily Pivot Point R3: 1.0057

 

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