USD/CHF extends gains and points to 1.0100

Swiss franc continues under pressure against US dollar.
Price moves closer to 2018 highs, remains bullish.

Matías Salord FXStreet

The USD/CHF pair rose is rising on Wednesday on the back of a stronger US dollar and it on its way to the highest daily close since mid-November.

The greenback rose across the board supported by higher US bond yields and resume the upside after a modest pullback yesterday. The US Dollar Index erased Tuesday’s losses and climbed back above 97.00, although remained below weekly highs.

The US dollar is about to post the third daily gains in-a-row against the Swiss franc. On Monday broke a 4-day trading range and consolidated above the parity level. Despite the gains, USD/CHF has been unable to reach fresh weekly highs on Wednesday. As of writing trades at daily highs at 1.0085, up 25 pips for the day.

The upside remains limited by 1.0100. The mentioned area is a crucial level, and a break above would expose 2018 highs located at 1.0130 (Nov 13 high). A daily close on top of 1.0110 should be a positive signal for the greenback. If over the next days, USD/CHF fails to extend gains, it is likely to lose strength favoring a bearish correction. Immediate support levels are seen at 1.0035 and 0.9980 (20-day moving average).

USD/CHF

Overview:
    Today Last Price: 1.0086
    Today Daily change: 0.0026 pips
    Today Daily change %: 0.26%
    Today Daily Open: 1.006
Trends:
    Daily SMA20: 0.9971
    Daily SMA50: 0.9919
    Daily SMA100: 0.994
    Daily SMA200: 0.9909
Levels:
    Previous Daily High: 1.0093
    Previous Daily Low: 1.0033
    Previous Weekly High: 1.003
    Previous Weekly Low: 0.9943
    Previous Monthly High: 0.9996
    Previous Monthly Low: 0.9716
    Daily Fibonacci 38.2%: 1.007
    Daily Fibonacci 61.8%: 1.0056
    Daily Pivot Point S1: 1.0031
    Daily Pivot Point S2: 1.0002
    Daily Pivot Point S3: 0.9971
    Daily Pivot Point R1: 1.0091
    Daily Pivot Point R2: 1.0122
    Daily Pivot Point R3: 1.0151

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD holds near 1.1900 ahead of US data

EUR/USD struggles to build on Monday's gains and fluctuates near 1.1900 on Tuesday. Markets turn cautious, lifting the haven demand for the US Dollar ahead of the release of key US economic data, including Retail Sales and ADP Employment Change 4-week average.

GBP/USD declines toward 1.3650 on renewed USD strength

GBP/USD stays on the back foot and declines to the 1.3650 region on Tuesday. The negative shift seen in risk mood helps the US Dollar (USD) gather strength and makes it difficult for the pair to find a foothold. The immediate focus is now on the US Retail Sales data.

Gold stabilizes above $5,000 ahead of US data

Gold enters a consolidation phase after posting strong gains on Monday but stays above the $5,000 psychological mark and the daily swing low. US Treasury bond yields continue to edge lower on news of Chinese regulators advising financial institutions to curb holdings of US Treasuries, helping XAU/USD hold its its ground.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash (BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.