USD/CHF eases below 0.9300 as USD retreats

USD/CHF prints mild daily gains on the first trading day of the week.
US Dollar pares initial gains and trades near 94.10 with losses.
The Swiss franc gains ground on risk-off mood.

Rekha Chauhan Independent Analyst

The USD/CHF pair edges higher on Monday in the initial Asian session. The pair fell from the high above 0.9300 on Friday following the disappointing NFP data. At the time of writing, USD/CHF is trading at 0.9275 up 0.05% for the day.

The depreciative move in the greenback keeps the gains limited in USD/CHF. The US Dollar Index (DXY), which measures the performance of the greenback against the basket of six major currencies, holds near 94.11 with 0.11% losses. Investors digested the dismal Nonfarm Payrolls data. The US economy has added only 194K jobs in September, much below the expectations of 488K.

In addition to that, China profounds the idea of cancellation of tariffs and sanctions over the virtual talks between US Trade Representative Kathrine Tai and China’s Vice Premier Liu He. Furthermore, the risk sentiment was dampened following the US Senate Republican leader Mitch McConnell in a letter to US President Joe Biden asked that he would not aid Democrats again in raising the debt limit. It is worth noting that, S&P 500 Futures is trading at 4,358.50, down 0.54%.

As for now, in the absence of any major fundamental economic release, the USD direction would influence traders decisions.

USD/CHF additional levels

Overview
Today last price	0.9279
Today Daily Change	0.0005
Today Daily Change %	0.05
Today daily open	0.9274

Trends
Daily SMA20	0.9268
Daily SMA50	0.9199
Daily SMA100	0.9154
Daily SMA200	0.9123

Levels
Previous Daily High	0.9306
Previous Daily Low	0.9259
Previous Weekly High	0.9318
Previous Weekly Low	0.9231
Previous Monthly High	0.9368
Previous Monthly Low	0.9116
Daily Fibonacci 38.2%	0.9277
Daily Fibonacci 61.8%	0.9288
Daily Pivot Point S1	0.9254
Daily Pivot Point S2	0.9233
Daily Pivot Point S3	0.9207
Daily Pivot Point R1	0.93
Daily Pivot Point R2	0.9326
Daily Pivot Point R3	0.9347

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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