USD/CHF ends 4-day bullish streak, another test of 1.0050 on the cards

  • The Swiss franc is among top European performer today, on a quiet session. 
  • USD/CHF heads for first lost after rising during four days in-a-row. 

The USD/CHF pair is trading at 1.0085, near the daily low it reached after the beginning of the American session at 1.0079. The pair holds a bearish intraday tone amid a lower US Dollar across the board. Today the Swiss franc is up also against the Euro and the Pound. EUR/CHF reached the lowest level since April 11 at 1.1255 

The greenback is falling amid lower US yields, a decline in equity prices in Wall Street and also following the release of the Chicago Fed Activity Index that showed a decline to -0.45 from 0.05 (below the -0.33 expected). The US Dollar Index (DXY) is down 0.10%, back below 98.00. Wall Street is falling on the back of Huawei fallout concerns and the impact on trade negotiations. 

USD/CHF Retreating from the 20-day moving average

A week ago, USD/CHF bottomed at 1.0049 and then started to correct higher, rising during four consecutive days. On Friday it lost strength after reaching a top at 1.0120. The mentioned level was tested today but it held below. It has become the key barrier to the upside and is also the 20-day moving average. A daily close above 1.0120 would clear the way for an extension to the upside. While it remains below, the bias would favor the downside. 

Below the daily low, the next support might be seen at 1.0070, followed by the last week low at 1.0050 and then 1.0025/30. 

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

Latest Forex News

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.


GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.


XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI once again breaks $40 per barrel after trading lower in early EU trade

There has been quite the bounce in WTI since the EU session after some strong selling pressure during Thursday and overnight. Once again on Friday's session, the price has taken the USD 40 per barrel handle. 

Oil News