OctaFX | OctaFX Forex Broker
Open trading account

USD/CHF technical analysis: 4H 100MA, 2-week-old support-zone limit immediate declines

  • USD/CHF extends Thursday’s downpour, nears short-term key supports.
  • An upside break of 0.9985 could recall June month highs.

Given the failure to rise past-0.9980/85 area, USD/CHF carries the previous day’s declines while trading around 0.9913 ahead of the Europe markets open on Friday.

The bearish signal from 12-bar moving average convergence and divergence (MACD) indicates brighter chances of pair’s further declines to 100-bar moving average on the four-hour chart, at 0.9900 now, followed by a two-week-old rising trend-line near 0.9890.

Should sellers refrain from respecting immediate support-line, 38.2% Fibonacci retracement of August-September upside, at 0.9860, and a month-long ascending trend-line close to 0.9835 will be on the bears’ radar.

Alternatively, 0.9950 and 0.9980/85 holds the key to pair’s rally towards early-June tops surrounding 1.0020, adjacent to mid-May bottoms nearing 1.0050.

USD/CHF 4-hour chart

Trend: pullback expected


FX option expiries for Sept 20 NY cut

FX option expiries for Sept 20 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - EUR/USD: EUR amounts 1.0900 554m 1.0925 1.3bn 1.0950 940m
Read more Previous

Canada: Retail Sales to increase 0.9% in July – TD Securities

In the view of the analysts at TD Securities, the Canadian Retail Sales are expected to increase in July. The data will be reported later today at 123
Read more Next
Start livechat