USD/CHF consolidates daily losses around 0.9680

  • US adds Switzerland into its list of currency manipulators.
  • EUR/CHF slumps to its lowest level since April 2017.
  • US Dollar Index stays in positive territory near 97.50 ahead of CPI data.

Following the United States Department of the Treasury's decision to include Switzerland in its list of currency manipulators on Tuesday, the CHF gathered strength against its major rivals as investors saw this as a development that could force the Swiss National Bank to refrain from intervening in the FX markets. 

The EUR/CHF fell sharply and touched its lowest level in more than 30 months at 1.0759 and the USD/CHF slumped below the 0.9700 mark. As of writing, the pair was trading at 0.9683, erasing 0.25% on the day after finding support near 0.9670.

USD strength keeps pair's losses limited

On the other hand, the US Dollar Index is posting modest daily gains near 97.50 to help the pair pull away from its daily lows. In the early trading hours of the American session, the Consumer Price Index (CPI) data from the US will be looked upon for fresh impetus.

Markets expect the core CPI, which excludes volatile food and energy prices, to remain steady at 2.3% on a yearly basis in December.

Technical levels to watch for


Today last price 0.9687
Today Daily Change -0.0020
Today Daily Change % -0.21
Today daily open 0.9707
Daily SMA20 0.9748
Daily SMA50 0.9846
Daily SMA100 0.9879
Daily SMA200 0.9915
Previous Daily High 0.9738
Previous Daily Low 0.9694
Previous Weekly High 0.9763
Previous Weekly Low 0.9665
Previous Monthly High 1.0009
Previous Monthly Low 0.9646
Daily Fibonacci 38.2% 0.9711
Daily Fibonacci 61.8% 0.9721
Daily Pivot Point S1 0.9688
Daily Pivot Point S2 0.9669
Daily Pivot Point S3 0.9644
Daily Pivot Point R1 0.9732
Daily Pivot Point R2 0.9757
Daily Pivot Point R3 0.9776



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