USD/CHF Stages Three-Day Rebound
USD/CHF extends the rebound from a fresh monthly low (0.8974) to trade back above the 50-Day SMA (0.8974).
USD/CHF Rate Outlook
It remains to be seen if USD/CHF carves will track the positive slope in the moving average as it carves a series of higher highs and lows following the failed attempt to break/close below the 0.8890 (38.2% Fibonacci retracement) to 0.8930 (23.6% Fibonacci retracement) region, with a move above the 0.9000 (50% Fibonacci retracement) to 0.9030 (38.2% Fibonacci extension) area opening up the 0.9100 (61.8% Fibonacci retracement) handle.
Next region of interest comes in around 0.9160 (38.2% Fibonacci retracement) to 0.9180 (23.6% Fibonacci extension), but the rebound from the monthly low (0.8974) may unravel if USD/CHF fails to retain the bullish price series.
A close below the 0.8890 (38.2% Fibonacci retracement) to 0.8930 (23.6% Fibonacci retracement) region brings the September low (0.8796) on the radar, with the next area of interest coming in around 0.8760 (23.6% Fibonacci retracement) to 0.8770 (61.8% Fibonacci extension).
USD/CHF Rate Outlook
It remains to be seen if USD/CHF carves will track the positive slope in the moving average as it carves a series of higher highs and lows following the failed attempt to break/close below the 0.8890 (38.2% Fibonacci retracement) to 0.8930 (23.6% Fibonacci retracement) region, with a move above the 0.9000 (50% Fibonacci retracement) to 0.9030 (38.2% Fibonacci extension) area opening up the 0.9100 (61.8% Fibonacci retracement) handle.
Next region of interest comes in around 0.9160 (38.2% Fibonacci retracement) to 0.9180 (23.6% Fibonacci extension), but the rebound from the monthly low (0.8974) may unravel if USD/CHF fails to retain the bullish price series.
A close below the 0.8890 (38.2% Fibonacci retracement) to 0.8930 (23.6% Fibonacci retracement) region brings the September low (0.8796) on the radar, with the next area of interest coming in around 0.8760 (23.6% Fibonacci retracement) to 0.8770 (61.8% Fibonacci extension).
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