USD/CHF technical analysis: The pair started a downside move and broke the 0.9920 support level to enter a bearish zone

FXOpen Broker Team FXOpen

The US Dollar faced a solid resistance near the 0.9980 level against the Swiss Franc. The USD/CHF pair started a downside move and broke the 0.9960 and 0.9920 support levels to enter a bearish zone.

There was a break below a major bullish trend line with support at 0.9966 on the hourly chart. Besides, there was a close below the 0.9940 pivot and the 50 hourly simple moving average. The pair traded as low as 0.9916 and later corrected higher.

However, the recovery was capped by the 0.9945 resistance and the 38.2% Fib retracement level of the recent decline from the 0.9989 high to 0.9916 low. The current price action is bearish and it seems like the price may continue to slide below 0.9920 and 0.9915 in the near term. The next stop for sellers could be 0.9900 or 0.9880. Resistances are at 0.9940 and 0.9960.

Author

FXOpen Broker Team

FXOpen

EUR/USD looks offered below 1.1900

EUR/USD keeps its bearish tone unchanged ahead of the opening bell in Asia, returning to the sub-1.1900 region following a firmer tone in the US Dollar. Indeed, the pair reverses two consecutive daily gains amid steady caution ahead of Wednesday’s key US Nonfarm Payrolls release.

GBP/USD slips back to daily lows near 1.3640

GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.

Gold the battle of wills continues with bulls not ready to give up

Gold remains on the defensive and approaches the key $5,000 region per troy ounce on Tuesday, giving back part of its recent two day. The precious metal’s pullback unfolds against a firmer tone in the US Dollar, declining US Treasury yields and steady caution ahead of upcoming key US data releases.

Bitcoin's downtrend caused by ETF redemptions and AI rotation: Wintermute

Bitcoin's (BTC) fall from grace since the October 10 leverage flush has been spearheaded by sustained ETF outflows and a rotation into the AI narrative, according to Wintermute.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.