USD/CHF approaches 2018 peak above parity as DXY advances to 4-month highs

US Dollar Index rises above 97 for the first time since late June.
Wall Street looks to end the day modestly higher.

Eren Sengezer FXStreet

After taking a break above the parity mark in the early NA session, the USD/CHF resumed its rally and touched its highest level since July 13 at 1.0052 as the greenback continued to gather strength. As of writing, the pair was trading at 1.0050, adding 0.3% on the day.

The strong macroeconomic data releases from the United States and rising Treasury bond yields fueled the US Dollar Index's upsurge on Tuesday. Additionally, the selling pressure surrounding major European currencies such as the euro and the British pound amid ongoing political concerns force investors to look for better alternatives.

Earlier today, the data from the United States showed that the S&P/Case-Shiller Home Price Index rose 5.5% on a yearly basis in August and the Conference Board's Consumer Confidence Index rose to 137.9 in October from 135.3 in September. The US Dollar Index, which failed to break above the 97 mark back in August, advanced to its highest level in more than four months at 97.02.

In the meantime, major equity indexes in the U.S. are clinging to their gains on Tuesday with the Dow Jones Industrial Average looking to close the session around 1% higher and making it difficult for safe-havens like the CHF find demand and stage a recovery.

Technical levels to consider

The pair could face the next resistance at 1.0070 (Jul. 13 high - 2018 high) ahead of 1.0100 (psychological level) and 1.0170 (Mar. 7, 2017, high). On the downside, supports are located at 1.000 (parity), 0.9940 (20-DMA) and 0.9850 (Oct. 15 low).

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

EUR/USD shifts its attention to 1.1900 and above

EUR/USD has shaken off Tuesday’s dip, pushing back beyond the 1.1800 mark amid decent gains as Wednesday’s session draws to a close. The rebound is largely driven by a modest pullback in the US Dollar, as markets digest the aftermath of President Trump’s SOTU speech and continue to monitor trade-related headlines and signals from the White House.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

UK financial watchdog advances stablecoin oversight as four firms pilot issuance

The Financial Conduct Authority (FCA) in the United Kingdom (UK) is advancing toward the final stablecoin regulatory framework with a pilot program involving four companies, including Monee, Financial Technologies ReStabilise, Revolut and VVTX.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.