• USD/CHF takes offers to refresh intraday low, pares heaviest jump since December 06.
  • US 10-year Treasury yields remain steady around multi-day tops after rising the most in three months.
  • Virus woes, Fed rate-hike concerns propel yields, US dollar.
  • Swiss CPI, US ISM Manufacturing PMI decorate calendar.

USD/CHF refreshes intraday low to 0.9173 while paring the previous day’s heavy run-up during Tuesday’s Asian session. The Swiss currency (CHF) tracks steady yields and a lack of major catalysts to print mild losses, down 0.15% on a day.

That said, the quote rallied the most in nearly a month the previous day as the US dollar tracked firmer Treasury yields to print notable gains the previous day.

That said, the US Dollar Index (DXY) jumped the most in three weeks on Monday after the US Treasury yields jumped to the six-week top for 30-year, 20-year, 10-year and 5-year notes.

Speedy spread of the coronavirus and a jump in the cases linked to the South African covid variant, namely Omicron, provide a first push to the US bond yields. On the same line were the rising hopes of faster Fed rate hikes in 2022. Both these catalysts weigh bond prices and fuel yields.

“COVID worries have been front and center once again for investors since the start of the holiday season. The number of new COVID-19 cases has doubled in the last seven days to an average of 418,000 a day, mostly attributed to the highly transmissible but milder Omicron variant,” according to a Reuters tally.

The US inflation expectations, as per the 10-Year Breakeven Inflation Rate numbers from the Federal Reserve Bank of St. Louis (FRED), jumped to a fresh high in six weeks to portray further prices pressure ahead, allowing Fed hawks to keep controls.

Talking about the data, final prints of the US Markit Manufacturing PMI for December, 57.7 versus 57.8 prior, as well as softer figures of the US Construction Spending for November, failed to provide any clear direction to the USD/CHF pair as yields dominated the moves.

Amid these plays, the Wall Street benchmark printed losses by the S&P 500 Futures remain directionless at the latest.

Moving on, today’s Swiss Consumer Price Index (CPI) for November, market consensus 1.6% YoY versus 1.5% prior, will offer immediate direction to USD/CHF traders ahead of the US ISM Manufacturing PMI for the said month, expected 60.2 versus 61.1. However, major attention will be given to the Fed rate-hike concerns and virus updates for clear direction.

Technical analysis

Although failures to cross the 20-DMA, around 0.9200 at the latest, keep USD/CHF sellers hopeful, the 200-DMA level near 0.9175 holds the key to the pair’s further downside.

Additional important levels

Today last price 0.9174
Today Daily Change -0.0014
Today Daily Change % -0.15%
Today daily open 0.9188
Daily SMA20 0.92
Daily SMA50 0.9207
Daily SMA100 0.9212
Daily SMA200 0.9173
Previous Daily High 0.92
Previous Daily Low 0.9113
Previous Weekly High 0.9202
Previous Weekly Low 0.9102
Previous Monthly High 0.9295
Previous Monthly Low 0.9102
Daily Fibonacci 38.2% 0.9167
Daily Fibonacci 61.8% 0.9146
Daily Pivot Point S1 0.9134
Daily Pivot Point S2 0.908
Daily Pivot Point S3 0.9046
Daily Pivot Point R1 0.9221
Daily Pivot Point R2 0.9254
Daily Pivot Point R3 0.9309



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 Join Telegram

Recommended content

Recommended content

Editors’ Picks

AUD/USD bulls flirt with 0.7100 with eyes on Aussie Retail Sales, US PCE Inflation

AUD/USD bulls flirt with 0.7100 with eyes on Aussie Retail Sales, US PCE Inflation

AUD/USD holds onto the recently sidelined moves around 0.7100 as bulls and bears jostle over mixed clues heading into the key data on Friday. Also restricting the Aussie prices are downbeat statistics at home and looming economic fears over the largest customer China.


EUR/USD: Bulls are taking control and eye the 1.08 area

EUR/USD: Bulls are taking control and eye the 1.08 area

EUR/USD's market structure is now bullishon the daily chart. Euro's support near 1.0705 could offer a base from which bulls can engage in order to target the 1.08 areas. For the FOMC minutes, the pair was based at the targetted support area and there were prospects of a higher correction from support.


Gold bulls moving in on key hourly resistance, dollar remains soft

Gold bulls moving in on key hourly resistance, dollar remains soft

Gold bulls moving back in as the US dollar remains on the backfoot. This week's candle is bullish and the bulls have corrected to a 38.2% ratio milestone.

Gold News

Will Cardano price finally show its cards?

Will Cardano price finally show its cards?

Cardano price is preparing for a retest of $0.80. Still, jumping in early might be too risky. Traders should wait for confirmation signals.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!