USD/CHF continues consolidating, loses the 20-day SMA


Share:
  • USD/CHF declined towards 0.9040,  consolidating below the 20-day SMA.
  • Federal Reserve officials will be on the wires later in the session.
  • FOMC minutes on Wednesday and CPI figures from September from the US the next week highlights.

The USD/CHF declined near the 0.9040 level and tallied its fifth straight day of losses. For the US Dollar, the economic calendar will remain empty on Tuesday. The only highlights are Christopher Waller and Neel Kashkari from the Federal Reserve (Fed) speaking later in the session. As Lorie Logan stated yesterday, tighter financial conditions may put less pressure on the Fed to continue hiking; both speakers could generate volatility in the bond markets if they provide clues on forward guidance and affect the US Dollar price dynamics. Likewise, no relevant reports or data will be released on the Swiss economic calendar.

In the meantime, the focus is set on Wednesday’s Federal Open Market (FOMC) minutes from the September meeting, where investors will look for further clues on the Fed official's stance. In addition, the US September inflation figures are due on Thursday, which are expected to see the headline and core Consumer Price Index (CPI) decelerating. Furthermore, traders should monitor the conflict in Israel as growing tensions could benefit the US Dollar as a safe haven.

USD/CHF Levels to watch 

The daily chart analysis indicates a bearish outlook for the USD/CHF in the short term. The Relative Strength Index (RSI) is below its midline in negative territory, with a negative slope, aligning with the negative signal from the Moving Average Convergence Divergence (MACD), which displays red bars, reinforcing the strong bearish sentiment. Additionally, the pair is below the 20-day Simple Moving Average (SMA), but above the 100 and 200-day SMAs, suggesting that the bulls are in command over the bears on the bigger picture.

Support levels: 0.9050, 0.9030, 0.9000.

 Resistance levels: 0.9073 (20-day SMA), 0.9150, 0.9170.
 

USD/CHF Daily Chart

USD/CHF

Overview
Today last price 0.904
Today Daily Change -0.0026
Today Daily Change % -0.29
Today daily open 0.9066
 
Trends
Daily SMA20 0.9074
Daily SMA50 0.8916
Daily SMA100 0.8907
Daily SMA200 0.9027
 
Levels
Previous Daily High 0.9124
Previous Daily Low 0.905
Previous Weekly High 0.9244
Previous Weekly Low 0.9073
Previous Monthly High 0.9225
Previous Monthly Low 0.8795
Daily Fibonacci 38.2% 0.9078
Daily Fibonacci 61.8% 0.9095
Daily Pivot Point S1 0.9036
Daily Pivot Point S2 0.9006
Daily Pivot Point S3 0.8962
Daily Pivot Point R1 0.911
Daily Pivot Point R2 0.9154
Daily Pivot Point R3 0.9184

 


 

Share: Feed news

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.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

EUR/USD stabilizes above1.0800, looks to post weekly gains

EUR/USD stabilizes above1.0800, looks to post weekly gains

EUR/USD continues to trade in a tight channel above 1.0800 in the second half of the day on Friday, as the improving risk mood makes if difficult for the USD to gather strength. The pair remains on track to snap a five-week losing streak.

EUR/USD News

GBP/USD clings to modest daily gains above 1.2650

GBP/USD clings to modest daily gains above 1.2650

GBP/USD trades in positive territory above 1.2650 in the American session on Friday. The bullish opening in Wall Street doesn't allow the USD to gather strength and helps the pair stay on track to close higher for the fifth consecutive day.

GBP/USD News

Gold holds steady above $2,020 as US yields edge lower

Gold holds steady above $2,020 as US yields edge lower

Gold regained its traction and stabilized above $2,020 after falling below this level during the European trading hours. The benchmark 10-year US Treasury bond yield is down nearly 1% on the day below 4.3%, allowing XAU/USD to keep its footing heading into the weekend.

Gold News

Ethereum price risks decline as increasing exchange supply raises chances of profit taking

Ethereum price risks decline as increasing exchange supply raises chances of profit taking

Ethereum price crossed $3,000 several times this week but the altcoin failed to sustain above this key level, raising concerns regarding its price trend. ETH price faces the risk of decline as the supply of the altcoin on exchanges is on the rise. 

Read more

Up go stocks, down go bonds

Up go stocks, down go bonds

We knew that yesterday was going to be a good day – at least for the stock markets, given that Nvidia defied the expectations that it would - maybe – fail to deliver $20bn sales in the latest quarter. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures