USD/CHF choppy, but set to end session at 0.9170ish lows as risk appetite deteriorates

  • USD/CHF has been choppy on Friday, but slipped back to session lows around 0.9170 in recent trade.
  • The pair is being weighed as risk appetite ends the week on the back foot, favouring haven like CHF.

It's been a choppy session but USD/CHF ultimately looks set to end the day lower by about 30 pips or just over 0.3%. The pair is currently trading at session lows in the 0.9170 area, having started the day to the north of the 0.9200 level, and is eyeing a test of this week’s lows at 0.9150. Unless USD/CHF can break below support before the NY close, which seems unlikely as volumes decline into the weekend, it seems the pair will be consigned to enter next week within the same 0.9150-0.9220ish range that has prevailed all week.

A deterioration in risk appetite over the last few hours that has seen US equities, commodities and most risk-sensitive commodities come under pressure is benefitting traditional safe-haven assets. Long-term US yields are substantially lower reflecting a bond bid that is also helping the likes of the yen and Swiss franc. Friday’s US November labour market report was mixed, with the headline NFP number missing expectations by a big margin but other aspects of the report, such as the unemployment rate, suggest the labour market continues to progress and remains tight. That, taken with more hawkish rhetoric from FOMC member James Bullard, has helped keep Fed tightening expectations for 2022 intact, so the moves being seen in bonds and FX are more to do with risk appetite.


Today last price 0.9171
Today Daily Change -0.0037
Today Daily Change % -0.40
Today daily open 0.9208
Daily SMA20 0.9239
Daily SMA50 0.9231
Daily SMA100 0.92
Daily SMA200 0.9181
Previous Daily High 0.9222
Previous Daily Low 0.9178
Previous Weekly High 0.9374
Previous Weekly Low 0.9218
Previous Monthly High 0.9374
Previous Monthly Low 0.9088
Daily Fibonacci 38.2% 0.9205
Daily Fibonacci 61.8% 0.9195
Daily Pivot Point S1 0.9184
Daily Pivot Point S2 0.9159
Daily Pivot Point S3 0.914
Daily Pivot Point R1 0.9227
Daily Pivot Point R2 0.9246
Daily Pivot Point R3 0.927



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD struggles to rebound, holds near 1.1150 after US data

EUR/USD trades around 1.1150 in the early American session on Friday as investors assess the latest inflation data from the US. According to the US Bureau of Economic Analysis, Core PCE Price Index rose to 4.9% on a yearly basis in December from 4.7% in November, surpassing the market expectation of 4.8%. 


GBP/USD clings to small gains above 1.3400 on mixed US data

GBP/USD posts modest daily gains slightly above 1.3400 on Friday as the dollar rally loses steam. The data from the US showed that the core PCE inflation edged higher to 4.9% in December. On a negative note, Personal Spending contracted by 0.6% on a monthly basis.


Gold recovers modestly after US data, stays below $1,800

Gold managed to stage a rebound from the multi-week low it set below $1,780 but continues to trade deep in the red near $1,790. The benchmark 10-year US Treasury bond yield is rising more than 1% on the day after US data, limiting XAU/USD's recovery.

Gold News

Bitcoin Weekly Forecast: Federal Reserve cannot tame BTC’s uptrend

Bitcoin has experienced some significant losses over the past few weeks, with a more dramatic drop occurring this week after the Fed's decision was announced. As losses have extended and BTC has entered into the $30,000 zone, concerns regarding Bitcoin being in a bear market have increased.

Read more

Apple share price set to rise after another record quarter

With the Nasdaq closing at its lowest level in seven months yesterday, the Apple share price has also found itself on the end of the recent weakness in tech shares, down over 12% from its record highs in early January.

Read more