USD/CHF declined further, eyes on bearish cross between the 20 and 200-day SMA

USD/CHF fell to 0.9050, seeing 0.30% losses.
The USD is losing interest due to the Fed dovish tone on Wednesday’s decision.
Ahead of October’s Nonfarm Payrolls, the US reported weak labor market data.
Indicators flash signals of further downside.

Patricio Martín FXStreet

In Thursday’s session, the USD/CHF saw red, mainly driven by a broad USD weakness following the Federal Reserve’s (Fed) and Jerome Powell’s remarks on Wednesday. In addition, soft labour market data is adding to the Greenback’s weakness.

On Wednesday, Jerome Powell hinted that the bank has covered significant ground. He stated that for the next decision, tighter financial conditions will be considered, as well as the cumulative effects for the next decisions. As a reaction, markets took those messages as a signal that interest rates reached its peak, which triggered a wave of risk-on flows which weakened the US Dollar.

Ahead of October’s Nonfarm Payroll on Friday, the U.S. Department of Labor revealed that the Initial Jobless Claims from the week ending in October 28 came in above the consensus. The people filling for unemployment benefits came in at 217,000, higher than the consensus 210,000 and increased concerning its last reading of 212,000.

For Friday’s job report, markets expect that the US economy added 118,000 jobs, decelerating from its revised September reading of 336,000. Wage inflation measured by the Average Hourly Earnings is forecasted to slightly decelerate while Unemployment is expected to remain steady at 3.8%.

USD/CHF Levels to watch

Upon evaluating the daily chart, a neutral to bearish outlook is seen, with the balance starting to lean in favour of the bears, although they still have hurdles to overcome. The Relative Strength Index (RSI) has a negative slope above its midline, indicating weakening buying pressure, while the Moving Average Convergence (MACD) histogram shows rising red bars.

In addition, it is worth noticing that the 20 and 200-day Simple Moving Averages (SMA) are converging towards 0.9000 en route to perform a bearish cross, which could fuel further downside movements.

Support levels: 0.9030, 0.9015, 0.9000 (20 and 200-day SMA convergence)

Resistance levels: 0.9060, 0.9080, 0.9100.

USD/CHF Daily chart

USD/CHF

Overview
Today last price	0.9051
Today Daily Change	-0.0027
Today Daily Change %	-0.30
Today daily open	0.9078

Trends
Daily SMA20	0.9016
Daily SMA50	0.8994
Daily SMA100	0.8897
Daily SMA200	0.9006

Levels
Previous Daily High	0.9113
Previous Daily Low	0.9071
Previous Weekly High	0.9035
Previous Weekly Low	0.8888
Previous Monthly High	0.9244
Previous Monthly Low	0.8888
Daily Fibonacci 38.2%	0.9087
Daily Fibonacci 61.8%	0.9097
Daily Pivot Point S1	0.9062
Daily Pivot Point S2	0.9046
Daily Pivot Point S3	0.902
Daily Pivot Point R1	0.9103
Daily Pivot Point R2	0.9129
Daily Pivot Point R3	0.9145

Author

Patricio Martín

FXStreet

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

EUR/USD gathers strength to near 1.1550 ahead of ECB rate decision

The EUR/USD pair trades in positive territory near 1.1540 during the early Asian trading hours. Rising bets that the European Central Bank will deliver a rate hike at its June policy meeting later on Thursday underpin the Euro against the Greenback.

GBP/USD nudges higher above 1.3350 despite rising Fed hike bets

The GBP/USD pair gathers strength to around 1.3385 during the Asian trading hours on Thursday. However, the potential upside might be limited amid rising expectations for higher-for-longer US interest rates. Markets might turn cautious later in the day ahead of the US Producer Price Index report.

Gold steadies above YTD low on softer USD; bearish bias remains amid Fed hike bets

Gold fades a modest Asian session bounce to the $4,118 region, though it manages to hold above the lowest level since November 2025. A softer Core US Consumer Price Index eased concerns about a runaway inflation spiral, weighing on the US Dollar and prompting some intraday short-covering around the precious metal.

XRP and XLM: Mild recovery attempts emerge amid mixed market signals

Ripple (XRP) and Stellar (XLM) show mild signs of recovery on Thursday after extending losses earlier this week. XRP is holding above the $1.10 level as bearish momentum begins to fade, while XLM has bounced modestly from a key support zone.

Oil is trading shadows on a radar screen

The oil market is no longer trading a clean barrel count. It is trading shadows on a radar screen, tankers running dark, missiles in the air, diplomacy wearing a flak jacket, and every macro desk trying to decide whether the Strait of Hormuz is merely impaired or about to become the fuse that relights the inflation trade.

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.