USD/CHF declined as the Greenback remains weak, defends the 20-day SMA

USD/CHF took a dip in Tuesday’s session and fell to 0.9110.
Despite the Consumer Confidence index in the US and Housing prices exceeding expectations, the USD remains weak.
The Federal Reserve maintains a cautious stance, asking the market for patience, which keeps the odds for rate cuts in June or July low.

Patricio Martín FXStreet

The USD/CHF pair is trading lower, despite optimistic signals from the US economy, specifically in the Housing market, and Consumer Confidence data. On the Swiss front, its economic calendar remained empty at the start of the week.

The US Consumer Confidence index was reported to have risen to 102, outperforming forecasts while the the S&P/Case-Shiller Home Price Indices also beat expectations and rose by 7.4% YoY in March.

In the meantime, investors remain focused on key economic data, specifically, the forthcoming figures from the Personal Consumption Expenditures (PCE) and Q1 GDP revisions, to be released on Thursday and Friday to provide further market direction. The Federal Reserve (Fed) Beige Book report on Wednesday might also be considered by investors to place bets on the timing of the easing cycle.

USD/CHF technical analysis

In the daily analysis, the Relative Strength Index (RSI) stands in positive territory but exhibits a minor decline in the latest session, indicating a minor momentum shift that could favor sellers in the near term. Concurrently, the Moving Average Convergence Divergence (MACD) shows decreasing green bars, indicating a weakening bullish momentum.

USD/CHF daily chart

USD/CHF

Overview
Today last price	0.9123
Today Daily Change	-0.0014
Today Daily Change %	-0.15
Today daily open	0.9137

Trends
Daily SMA20	0.9099
Daily SMA50	0.9076
Daily SMA100	0.8903
Daily SMA200	0.8884

Levels
Previous Daily High	0.9154
Previous Daily Low	0.9132
Previous Weekly High	0.9158
Previous Weekly Low	0.9079
Previous Monthly High	0.9195
Previous Monthly Low	0.8998
Daily Fibonacci 38.2%	0.9141
Daily Fibonacci 61.8%	0.9146
Daily Pivot Point S1	0.9129
Daily Pivot Point S2	0.912
Daily Pivot Point S3	0.9107
Daily Pivot Point R1	0.915
Daily Pivot Point R2	0.9163
Daily Pivot Point R3	0.9171

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

AUD/USD sticks to neutral bias above 0.7100 amid cautious markets

AUD/USD holds steady above 0.7100 in the Asian session on Monday as the US Dollar stalls its modest pullback from the highest level since late July amid persistent geopolitical uncertainties. The PBOC status quo on Loan Prime Rates also weighs on the Aussie. However, bets on another RBA rate hike continue to underpin the Australian Dollar ahead of the Trump-Xi Summit.

USD/JPY eases below 157.00 amid looming intervention risks

USD/JPY is easing back below 157.00 in Asia on Monday, undermined by modest Japanese Yen strength amid looming intervention risks after Friday's BoJ rate check. A Japanese holiday also keeps traders on edge amid escalating geopolitical tensions between Russia and Ukraine and in the Middle East. As a result, the US Dollar pauses its pullback, limiting the pair's downside.

Gold meets resistance around $4,400

Gold kicks in the new trading with on the back foot, keeping its trade near $4,350 per troy ounce. The precious metal’s correction comes on the back of the firmer US Dollar and espite declining US Treasury yields across the curve.

Bitcoin hits $85,000 for the first time in eight months

Bitcoin price reclaims $85,000 on Monday, advancing last week’s 5% recovery toward an eight-month high. The recovery in King Crypto aligns with renewed institutional demand, with Exchange Traded Funds (ETFs) recording $433 million in inflows on Friday.

The week ahead: Fuel prices in focus as we lead up to key eco releases

Financial markets are in a strange position as we move to the final weeks of Q3, uncertainty and volatility continue to grip markets, but the oil price is falling; and European and US stocks are poised to open higher later on Monday. Market stresses are concentrated in sovereign bonds, and European and US yields had another scare late on Friday, and moved higher.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.