USD/CHF Technical Analysis: 100-day restricts recent recovery targeting 1.0000 mark

USD/CHF daily chart

• USD/CHF is trading near 0.9960 ahead of European open on Monday.
• Despite the quote’s recovery from 38.2% Fibonacci retracement of its September – November 2018 upside, buyers fall short of clearing 100-day simple moving average (SMA), at 0.9965 now.
• Hence, the pair needs to clear 0.9965 barrier in order to aim for 1.0000 round-figure that’s accompanied by 50-day SMA.
• In a case bulls dominate past-1.0000, 1.025, 1.0055 and 1.0070 can flash on their radar.
• Meanwhile, 38.2% Fibonacci retracement level around 0.9900 may offer strong support to the pair, a break of which could flash 0.9955.
• Though, an upward sloping support-line stretched since September 2018 could limit further downside near 0.9840.

USD/CHF 4-Hour chart

• 61.8% Fibonacci expansion (FE) of its moves since March 15 can offer additional downside support at 0.9875.
• March month high near 1.0125 can please optimists past-1.0070.

USD/CHF hourly chart

• Short-term “rising wedge” can be confirmed if 0.9950 is broken to the downside, which in turn indicates increased selling pressure towards 0.9890.
• Formation resistance around 0.9980 may offer additional resistance.