USD/CHF eases from 2-month tops, still comfortable above 0.9800 mark


  • USD/CHF fails to capitalize on the early uptick to near two-month tops.
  • A mildly softer tone surrounding the USD seemed to exert some pressure.
  • The downside remains cushioned amid improving global risk sentiment.

The USD/CHF pair failed to capitalize on the early uptick and has now retreated to the lower end of its daily trading range, around the 0.9815 region.

The pair witnessed a modest intraday pullback from near two-month tops and for now, seems to have stalled its recent bullish trajectory witnessed over the past two weeks amid a mildly softer tone surrounding the US dollar.

The downside is likely to remain limited

The greenback remained on the defensive at the start of a new trading week and eased further from 4-1/2 month tops touched ahead of Friday's slight disappointment from the US core retail sales and Retail Sales Control Group figures.

However, a slight improvement in the global risk sentiment – amid easing concerns over the outbreak of the deadly coronavirus – undermined the Swiss franc's perceived safe-haven demand and might help limit any deeper losses.

Given that the US bank will remain closed on Monday in observance of Presidents' Day, investors might refrain from placing any aggressive bets, which might eventually lead to a subdued/range-bound price action on Monday.

Technical levels to watch

USD/CHF

Overview
Today last price 0.9815
Today Daily Change -0.0004
Today Daily Change % -0.04
Today daily open 0.9819
 
Trends
Daily SMA20 0.9724
Daily SMA50 0.9743
Daily SMA100 0.9836
Daily SMA200 0.9864
 
Levels
Previous Daily High 0.9823
Previous Daily Low 0.9785
Previous Weekly High 0.9823
Previous Weekly Low 0.974
Previous Monthly High 0.9768
Previous Monthly Low 0.9613
Daily Fibonacci 38.2% 0.9808
Daily Fibonacci 61.8% 0.98
Daily Pivot Point S1 0.9795
Daily Pivot Point S2 0.9771
Daily Pivot Point S3 0.9757
Daily Pivot Point R1 0.9833
Daily Pivot Point R2 0.9847
Daily Pivot Point R3 0.9871

 

 

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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

EUR/USD holds on to weekly gains near 1.0950

EUR/USD holds near 1.0950 amid broad-based dollar´s weakness. US dismal inflation passed unnoticed in holiday trading. Market cheers Eurogroup agreement on a rescue plan waits from G20 Energy Summit.

EUR/USD News

GBP/USD pressuring the 1.2500 threshold

Thin trading has kept GBP/USD at its 3-week tops just below the 1.2500 level. UK PM Johnson’s better health condition, and the broad US dollar´s weakness provide support.

GBP/USD News

Week ahead – China to reveal virus damage on GDP as markets cling onto optimism

As much of the world is stuck in a lockdown, one country where life has started to return to normal will shed some light on the toll of the virus outbreak on its economy as China reports GDP growth estimates. 

Read more

WTI slumps after Mexico rejects OPEC+ deal, G20 Energy Summit eyed

After witnessing a solid recovery in the final week of March, WTI (oil futures on NYMEX) resumed its bearish trend and lost nearly 18% this Easter holiday-shortened week. Day 2 of OPEC+ meeting and G20 Energy Summit in focus. 

Oil News

XAU/USD is ending the week nearing 2020 highs

Gold is nearing the 2020 highs while above the main DMA (daily simple moving average) suggesting that bulls remain in full control of the market. 

Gold News

Forex MAJORS

Cryptocurrencies

Signatures