USD/CHF climbs to over 2-week tops, around 0.9730 region

  • USD/CHF regains some positive traction amid improving risk sentiment.
  • Recovering US bond yields underpinned the USD and remained supportive.
  • The positive momentum seemed unaffected by mixed US Durable Goods Orders.

The USD/CHF pair built on its goodish intraday positive move and jumped to over two-week tops, around the 0.9730-35 region in the last hour.

Following an early dip to the 0.9680 region, the pair managed to regain some positive traction and the uptick accelerated further during the early North-American session. A turnaround in the global risk sentiment weighed heavily on the Swiss franc's safe-haven status and was seen as one of the key factors driving the pair higher.

The risk-on mood was further reinforced by a goodish rebound in the US Treasury bond yields, which underpinned the US dollar demand and remained supportive. The positive momentum seemed rather unaffected by mixed US Durable Goods Orders data and remained exclusive driven by the improving risk appetite.

It will now be interesting to see if the pair is able to capitalize on the positive momentum or meets with some supply at higher levels. Market participants now look forward to the Conference Board's US Consumer Confidence Index in order to grab some short-term trading opportunities.

Technical levels to watch


Today last price 0.9726
Today Daily Change 0.0031
Today Daily Change % 0.32
Today daily open 0.9695
Daily SMA20 0.9694
Daily SMA50 0.9798
Daily SMA100 0.9861
Daily SMA200 0.9896
Previous Daily High 0.972
Previous Daily Low 0.9681
Previous Weekly High 0.973
Previous Weekly Low 0.9661
Previous Monthly High 1.0009
Previous Monthly Low 0.9646
Daily Fibonacci 38.2% 0.9696
Daily Fibonacci 61.8% 0.9705
Daily Pivot Point S1 0.9677
Daily Pivot Point S2 0.966
Daily Pivot Point S3 0.9638
Daily Pivot Point R1 0.9716
Daily Pivot Point R2 0.9738
Daily Pivot Point R3 0.9755



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