USD/CHF extends daily rally toward 0.9120 as DXY climbs above 93.50

  • USD/CHF is rising for the third straight day on Wednesday.
  • US Dollar Index climbs to nine-day highs above 93.60.
  • S&P 500 futures are down nearly 2% ahead of the opening bell.

After breaking above 0.9100 during the European trading hours, the USD/CHF preserved its bullish momentum and touched its highest level since October 19th at 0.9128. As of writing, the pair was up 0.4% on the day at 0.9122.

DXY rises for the third straight day

The broad-based USD strength remains the primary driver of USD/CHF's movements on Wednesday. The US Dollar Index (DXY), which posted small gains and closed above 93.00 on Tuesday, capitalized on safe-haven flows and climbed to its highest level in more than a week at 93.64. At the moment, the DXY is up 0.5% on the day at 93.55.

Reflecting the risk-averse market environment, the S&P 500 futures are down nearly 2% on the day, suggesting that Wall Street's main indexes look to start the day deep in the negative territory. Additionally, the 10-year US Treasury bond yield is losing more than 2%, confirming the view that safe-haven flows are likely to continue to dominate the markets.

Meanwhile, the only data from the US showed on Wednesday that the trade deficit in September narrowed $79.4 billion from $83.1 billion in August but was largely ignored by the market participants.

Technical levels to watch for


Today last price 0.912
Today Daily Change 0.0034
Today Daily Change % 0.37
Today daily open 0.9086
Daily SMA20 0.9127
Daily SMA50 0.9129
Daily SMA100 0.9228
Daily SMA200 0.9453
Previous Daily High 0.9098
Previous Daily Low 0.9062
Previous Weekly High 0.9166
Previous Weekly Low 0.9031
Previous Monthly High 0.9296
Previous Monthly Low 0.8999
Daily Fibonacci 38.2% 0.9084
Daily Fibonacci 61.8% 0.9075
Daily Pivot Point S1 0.9066
Daily Pivot Point S2 0.9046
Daily Pivot Point S3 0.903
Daily Pivot Point R1 0.9102
Daily Pivot Point R2 0.9118
Daily Pivot Point R3 0.9138



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