USD/CHF climbs above 0.9100 as focus shifts to US data

USD/CHF is rising modestly on the last trading day of the week.
SNB Chairman Jordan reiterated their willingness to intervene in forex markets.
Annual Core PCE Price Index in US is expected to rise to 1.8% in March.

Eren Sengezer FXStreet

Following a sharp decline on Wednesday, the USD/CHF pair struggled to find direction on Thursday before edging higher on Friday. As of writing, the pair was up 0.22% on the day at 0.9103.

SNB commentary weighs on CHF

Earlier in the day, Swiss National Bank (SNB) Chairman Thomas Jordan repeated that it remains essential for them to continue to use negative interest rates and stay ready to intervene in forex markets. "Swiss franc has weakened but remains highly valued," Jordan added and made it difficult for the CHF to preserve its strength.

On the other hand, the US Dollar Index (DXY) extends rebound toward 91.00 on Friday, allowing USD/CHF to stay in the positive territory.

Ahead of the US Bureau of Economic Analysis' Personal Consumption Expenditures (PCE) Price Index, Personal Income and Personal Spending data, the DXY is up 0.28% on the day at 90.88.

Investors expect the Core PCE Price Index, the Federal Reserve's benchmark inflation gauge, to rise to 1.8% on a yearly basis in March from 1.4% in February. If US T-bond yields gain traction on a stronger-than-expected reading, the USD could look end the week on a firm footing and help USD/CHF push higher.

Technical levels to watch for

USD/CHF

Overview
Today last price	0.9104
Today Daily Change	0.0018
Today Daily Change %	0.20
Today daily open	0.9086

Trends
Daily SMA20	0.9212
Daily SMA50	0.9234
Daily SMA100	0.9063
Daily SMA200	0.9086

Levels
Previous Daily High	0.912
Previous Daily Low	0.908
Previous Weekly High	0.9215
Previous Weekly Low	0.9128
Previous Monthly High	0.9459
Previous Monthly Low	0.9071
Daily Fibonacci 38.2%	0.9095
Daily Fibonacci 61.8%	0.9105
Daily Pivot Point S1	0.9071
Daily Pivot Point S2	0.9056
Daily Pivot Point S3	0.9031
Daily Pivot Point R1	0.911
Daily Pivot Point R2	0.9135
Daily Pivot Point R3	0.915

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.

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