USD/CHF extends rally as US Dollar soars, eyes 1.0000


  • US Dollar up rises across the board supported by US data. 
  • USD/CHF up for the fourth time out of the last five days.

The USD/CHF pair move further to the upside during the American session amid a rally of the US Dollar. The greenback gained more strength after the release of US data that came in above expectations. Retail sales rose 0.5% in May and April’s data was revised higher. Industrial production also showed better-than-expected numbers. The negative number was consumer confidence for June that dropped from 100 to 97.9. 

But not even the UoM Consumer report offset the previous numbers that eased speculations about a rate cut from the Federal Reserve as soon as July. Also US yields move to the upside, but then pulled back. 

Versus main European currencies, the US Dollar reached weekly highs. The USD/CHF is trading at 0.9988 at the highest since June 3 and testing the 20-day moving average. The area around the parity level and the 20-DMA are a strong resistance level. A consolidation clearly above would signal more gains ahead and that a bottom is in place.  If the pair fails to break higher, now the immediate strong support is located around 0.9960 and below at 0.9925. 

The pair erased most of last week losses and is up 100 pips from the level it had last Friday. It is about to post the biggest weekly gain since mid-April. 

More Levels 

USD/CHF

Overview
Today last price 0.9988
Today Daily Change 0.0048
Today Daily Change % 0.48
Today daily open 0.994
 
Trends
Daily SMA20 1.0001
Daily SMA50 1.0074
Daily SMA100 1.0037
Daily SMA200 0.9968
Levels
Previous Daily High 0.9961
Previous Daily Low 0.9917
Previous Weekly High 1.0017
Previous Weekly Low 0.9854
Previous Monthly High 1.0227
Previous Monthly Low 1
Daily Fibonacci 38.2% 0.9934
Daily Fibonacci 61.8% 0.9944
Daily Pivot Point S1 0.9917
Daily Pivot Point S2 0.9895
Daily Pivot Point S3 0.9874
Daily Pivot Point R1 0.9961
Daily Pivot Point R2 0.9983
Daily Pivot Point R3 1.0005

 

 

 

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD pressured around 1.1200 amid dovish ECB comments

EUR/USD is trading around 1.1200 after ECB officials expressed concern about global growth President Draghi will speak later. Tension is rising toward the Fed decision after US retail sales surprised on Friday.

EUR/USD News

GBP/USD pressured below 1.2600, Conservative contest in focus

GBP/USD is trading below 1.2600, consolidating the losses seen on Friday after US retail sales beat expectations. The Conservative contest is heating up ahead of tomorrow's second vote.

GBP/USD News

USD/JPY: wait-and-see continues ahead of Fed

The dollar consolidates its gains against most rival, and scarce data exacerbates the quietness. USD/JPY bullish above 108.90, bearish below 108.10.

USD/JPY News

Gold: Flirting with daily lows, around 200-hour SMA

A follow-through selling below 200-hour SMA will reinforce the negative outlook and accelerate the slide towards 38.2% Fibo. level support near the $1325 region ahead of Wednesday’s FOMC policy update.

Gold News

Gold: Signs of bullish exhaustion ahead of the Fed

Gold's rally seems to have run its course with signs of bullish exhaustion emerging on technical charts ahead of Wednesday's FOMC (Federal Open Market Committee) rate decision.

Read more

Majors

Cryptocurrencies

Signatures