- 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.
|Today last price||0.953|
|Today Daily Change||-0.0111|
|Today Daily Change %||-1.15|
|Today daily open||0.9641|
|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|
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.