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- USD/CHF Price Analysis: Awaits US NFP to overcome Doji, 200-DMA barriers
USD/CHF Price Analysis: Awaits US NFP to overcome Doji, 200-DMA barriers
- USD/CHF stays mildly offered following the previous day’s bearish candlestick formation.
- 200-DMA challenges the sellers, key Fibonacci retracement levels add to the upside filters.
- Firmer Momentum line sustained trading beyond the key SMA, trend line favor buyers.
USD/CHF justifies Thursday’s bearish Doji while printing a 0.08% intraday loss around 0.9200 heading into Friday’s European session. Even so, the 200-DMA challenges the Swiss currency (CHF) pair sellers.
In addition to the stated key moving average near 0.9180, 50% and 61.8% Fibonacci retracement levels of August-November upside, respectively around 0.9197 and 0.9155, also challenge the sellers.
It’s worth noting that the firmer Momentum line and a four-month-old ascending trend line, near 0.9115, keeps USD/CHF bulls hopeful.
Meanwhile, an upside break of the 38.2% Fibonacci retracement level of 0.9240 will reject the bearish candlestick performance. However, USD/CHF buyers may wait for a clear run-up past 0.9250, comprising early November lows, to retake controls.
Overall, USD/CHF remains sidelined with eyes on the US Nonfarm Payrolls (NFP).
USD/CHF: Daily chart
Trend: Further weakness expected
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