USD/CHF extends daily rally toward 1.0050 on broad USD strength

  • US Dollar Index pushes higher to 97.
  • US 10-year T-bond yield rises by more than 1% on Monday.
  • Risk-on mood weighs on safe-havens.

Following the flash spike in the early Asian session, the USD/CHF quickly reversed its gains, suggesting that the upsurge was most likely caused by a 'fat-finger'. With the greenback gaining traction on Monday, the pair started to climb above the critical parity mark, and was last seen adding 0.5% on the day at 1.0050.

The selling pressure surrounding the major European currencies stays strong and allows the greenback to continue to outperform its rivals. After closing the previous week at its highest level in more than two weeks, the US Dollar Index advanced to its highest level since late December at 97.01. As of writing, the DXY was up 0.35% on a daily basis at 96.97.

The decisive rebound in the U.S. Treasury Bond yields on Monday provides the primary boost to the greenback in the absence of important macroeconomic data releases. At the moment, the 10-year reference is up 1.1% on a daily basis. 

Meanwhile, major equity indexes in the U.S. started the day modestly higher to further weigh on the CHF, which is usually seen as a safe-haven asset.

Technical levels to consider

USD/CHF

Overview:
    Today Last Price: 1.005
    Today Daily change %: 0.49%
    Today Daily Open: 1.0001
Trends:
    Daily SMA20: 0.995
    Daily SMA50: 0.9916
    Daily SMA100: 0.9932
    Daily SMA200: 0.9908
Levels:
    Previous Daily High: 1.0029
    Previous Daily Low: 0.9995
    Previous Weekly High: 1.003
    Previous Weekly Low: 0.9943
    Previous Monthly High: 0.9996
    Previous Monthly Low: 0.9716
    Daily Fibonacci 38.2%: 1.0008
    Daily Fibonacci 61.8%: 1.0016
    Daily Pivot Point S1: 0.9988
    Daily Pivot Point S2: 0.9974
    Daily Pivot Point S3: 0.9954
    Daily Pivot Point R1: 1.0022
    Daily Pivot Point R2: 1.0042
    Daily Pivot Point R3: 1.0056

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