• Swiss franc among top performers on Monday, despite risk appetite.
  • US dollar weakens amid lower US yields.
  • USD/CHF suffers the worst decline in weeks, down almost a hundred pips.

The USD/CHF dropped further after the beginning of the American session and bottomed at 0.9521, reaching the lowest level since Tuesday. It is hovering around 0.9530, with a negative tone, down a hundred pips for the day.

The Swiss franc is among the strongest currencies of the day. EUR/CHF fell from near 0.9800 to 0.9717 (1-week low) and GBP/CHF tumbled to 1.1543 (lowest since July 26). CHF/JPY rose back above the 20-day Simple Moving Average and the 141.00 area.

The US dollar is falling across the board. The DXY is down 0.37%, approaching 106.00. The US 10-year yield stands at 2.78% and the 30-year at 3.00%, both far from Friday’s tops.

On Friday, the US dollar rallied following the release of the US employment report that came in above expectations. On Monday it lost most of those gains. Regarding data, attention now turns to the July CPI due on Wednesday.

The bias in USD/CHF is tilted to the downside. A consolidation below 0.9540 would keep the door open for a test of 0.9500. Below, the next support is the August low at 0.9469. If the US dollar breaks above 0.9660 it would negate the bearish bias: it would be back above critical supports and surpass the 20, 55 and 100-day Simple Moving Averages.

Technical levels

USD/CHF

Overview
Today last price 0.953
Today Daily Change -0.0111
Today Daily Change % -1.15
Today daily open 0.9641
 
Trends
Daily SMA20 0.9665
Daily SMA50 0.968
Daily SMA100 0.9625
Daily SMA200 0.9423
 
Levels
Previous Daily High 0.965
Previous Daily Low 0.9539
Previous Weekly High 0.9652
Previous Weekly Low 0.9471
Previous Monthly High 0.9886
Previous Monthly Low 0.9502
Daily Fibonacci 38.2% 0.9608
Daily Fibonacci 61.8% 0.9582
Daily Pivot Point S1 0.957
Daily Pivot Point S2 0.9499
Daily Pivot Point S3 0.9459
Daily Pivot Point R1 0.9681
Daily Pivot Point R2 0.9721
Daily Pivot Point R3 0.9792

 

 

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