USD/CHF technical analysis: 0.9900 is the level to beat for buyers

Failure to extend the latest recovery seems to portray the USD/CHF pair’s weakness as it trades around 0.9870 amid pre-European session on Tuesday.  |  22/10/2019 06:31
  • USD/CHF seesaws around late-Friday tops.
  • 100-HMA, Friday’s high will restrict the latest pullback.
  • September month low can please sellers during the declines.

Failure to extend the latest recovery seems to portray the USD/CHF pair’s weakness as it trades around 0.9870 amid pre-European session on Tuesday.

The pair trades below 100-Hour Simple Moving Average (HMA) and Friday’s high, around 0.9900, which holds the key to pair’s further recovery towards a 200-HMA level of 0.9930 and 0.9960 numbers to the north.

However, 1.0000 psychological magnet will continue restricting pair’s near-term upside.

On the contrary, a downside break below Friday’s low of 0.9837 can recall September month bottom, around 0.9800, prior to diverting bears towards 0.9800.

USD/CHF hourly chart

Trend: bearish

 

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