USD/CHF consolidates gains above 0.9900, limited by 0.9950

US Dollar rises versus Swiss Franc for the second-day in-a-row
USD/CHF testing key 200-day simple moving average and 0.9950.

Matías Salord FXStreet

The USD/CHF rose on Thursday, holding firm above 0.9900. The pair peaked on European hours at 0.9947 and then pulled back finding support at 0.9900. The bounced back to the upside unable to challenge daily highs and is trading at 0.9930.

The move to the upside was not as strong as earlier today amid a deteriorating sentiment in markets that offered some support to the Swissy. US data had no impact on the Greenback, that posted mix results across the board.

“The market sentiment was mixed, remaining sensitive to trade news, while U.S. political uncertainty continued to add noise. The yield on the 10Y UST bond dropped 5 bps after today’s NY Fed 14-day term repo operation was oversubscribed, despite injecting an additional $30b to $60b against $72.8b of bids. An unexpected rise in U.S. wholesale inventories in August (0.4% MoM, consensus 0.1% MoM, previous 0.1% MoM) and jobless claims also contributed to the fall in the yield. In Europe, the 10Y German bund was flat, while Spanish and Portuguese risk premia widened by 2 bps”, explained analysts at BBVA.

USD/CHF between two key levels

The upside today lost momentum near the 0.9950 that is a horizontal resistance and also the 200-day moving average. A consolidation on top could likely lead to a test of the next resistance at 0.9980 that protects the parity zone.

On the flip side, 0.9900/05 has become a key support that capped the decline today twice and is where the 20-day moving average stands. A break lower could open the doors to a 45-pips slide to the bottom of the previous trading range at 0.9855.

USD/CHF

Overview
Today last price	0.9936
Today Daily Change	0.0014
Today Daily Change %	0.14
Today daily open	0.9922

Trends
Daily SMA20	0.99
Daily SMA50	0.9847
Daily SMA100	0.9898
Daily SMA200	0.9949

Levels
Previous Daily High	0.9926
Previous Daily Low	0.9847
Previous Weekly High	0.9984
Previous Weekly Low	0.9864
Previous Monthly High	0.9976
Previous Monthly Low	0.9659
Daily Fibonacci 38.2%	0.9896
Daily Fibonacci 61.8%	0.9877
Daily Pivot Point S1	0.9871
Daily Pivot Point S2	0.9819
Daily Pivot Point S3	0.9792
Daily Pivot Point R1	0.995
Daily Pivot Point R2	0.9977
Daily Pivot Point R3	1.0029

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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