USD/CHF climbs back over 0.9150 as markets go risk-off

USD/CHF floating back to the top side as Greenback rises on risk aversion.
Franc buyers will be looking ahead to Tuesday's Swiss CPI reading.
Another NFP Friday looms ahead, investors will be positioning early.

Joshua Gibson FXStreet

The USD/CHF sees a Monday rebound after last Friday's decline, and broad-market risk flows are seeing investors pile into the US Dollar (USD) ahead of another US Non-Farm Payrolls Friday.

US Manufacturing Purchasing Manager Index (PMI) figures on Monday came in mixed, with September's Manufacturing PMI printing a healthy 49 versus the expected uptick to 47.7. Upside potential was limited by manufacturing prices, with the ISM manufacturing inflation index declining to 43.8, missing the forecast improvement to 48.6.

Next up on the data docket for the USD/CHF will be the Swiss Consumer Price Index (CPI), which is slated for Tuesday at 06:30 GMT.

Swiss inflation is expected to improve from 1.6% to 1.8%, but momentum heading into the mid-week will be capped off by the US ISM Services PMI printing, forecast to decline from 54.5 to 53.6. US services inflation data is slated for Wednesday at 14:00 GMT.

USD/CHF: Downward path will eventually resume – UBS

USD/CHF technical outlook

The USD/CHF bounded 85 pips from Monday's early low to mark in an intraday high just shy of the 0.9200 handle, and the pair is currently softening into the midpoint near 0.9170. The pair remains well-bid above the 200-hour Simple Moving Average near 0.9110, but the near-term ceiling remains last week's swing high into 0.9225.

Daily candlesticks see the USD/CHF extending above the 200-day SMA near 0.9050, and a bearish confirmation would first have to decisively fall below the 34-day Exponential Moving Average (EMA) which is currently rising into the 0.9000 major handle and set for a bullish cross of the 200-day SMA.

USD/CHF daily chart

USD/CHF technical levels

USD/CHF

Overview
Today last price	0.9174
Today Daily Change	0.0024
Today Daily Change %	0.26
Today daily open	0.915

Trends
Daily SMA20	0.9002
Daily SMA50	0.886
Daily SMA100	0.8897
Daily SMA200	0.9031

Levels
Previous Daily High	0.9164
Previous Daily Low	0.9091
Previous Weekly High	0.9225
Previous Weekly Low	0.9061
Previous Monthly High	0.9225
Previous Monthly Low	0.8795
Daily Fibonacci 38.2%	0.9119
Daily Fibonacci 61.8%	0.9136
Daily Pivot Point S1	0.9106
Daily Pivot Point S2	0.9062
Daily Pivot Point S3	0.9033
Daily Pivot Point R1	0.9179
Daily Pivot Point R2	0.9207
Daily Pivot Point R3	0.9251

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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