USD/CHF consolidates daily gains below 0.9900 mark

  • Positive risk sentiment weighs on safe havens on Monday.
  • US Dollar Index edges higher toward the 97.50 handle.
  • The 10-year US Treasury bond yield adds nearly 3.5%.

The USD/CHF pair, which lost more than 80 pips last week, gained traction on Monday as the upbeat market mood made it tough for the CHF to find demand. After reaching a daily high of 0.9890 in the European morning, the pair has gone into a consolidation phase and was last seen trading at 0.9877, up 0.23% on a daily basis.

Focus shifts to US-China trade developments

Several headlines suggesting that the United States and China are closing in on concluding the phase-one of the trade deal provided a boost to the market sentiment at the start of the week. Reflecting the upbeat atmosphere, the 10-year US Treasury bond yield is up 3.4% on a daily basis.

Meanwhile, the US Dollar Index is making a technical correction after closing the previous week in the negative territory pressured by disappointing Purchasing Managers' Index (PMI) data releases and the Federal Reserve's neutral/dovish policy outlook. At the moment, the index is adding 0.25% on the day at 97.37.

During the early trading hours of the Asian session, Caixin Services PMI data from China will be watched closely by the market participants as a stronger-than-expected reading could ease concerns over an economic slowdown in China and allow risk-on flows to continue to dominate the markets.

Technical levels to consider


Today last price 0.988
Today Daily Change 0.0023
Today Daily Change % 0.23
Today daily open 0.9857
Daily SMA20 0.9921
Daily SMA50 0.991
Daily SMA100 0.9872
Daily SMA200 0.9955
Previous Daily High 0.9895
Previous Daily Low 0.985
Previous Weekly High 0.997
Previous Weekly Low 0.985
Previous Monthly High 1.0028
Previous Monthly Low 0.9837
Daily Fibonacci 38.2% 0.9867
Daily Fibonacci 61.8% 0.9878
Daily Pivot Point S1 0.984
Daily Pivot Point S2 0.9822
Daily Pivot Point S3 0.9794
Daily Pivot Point R1 0.9885
Daily Pivot Point R2 0.9912
Daily Pivot Point R3 0.993



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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.


GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.


XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI once again breaks $40 per barrel after trading lower in early EU trade

There has been quite the bounce in WTI since the EU session after some strong selling pressure during Thursday and overnight. Once again on Friday's session, the price has taken the USD 40 per barrel handle. 

Oil News