USD/CHF extends rally from monthly lows, rises above 0.9500

The Swiss franc holds on to losses despite a retreat in Wall Street.
Greenback rises across the board during the American session.

Matías Salord FXStreet

The USD/CHF pair is rising sharply on Friday, and it regained 0.9500. On Thursday, the pair bottomed at 0.9374, the lowest since mid-March. Since then, it gained more than 150 pips amid a stronger US dollar.

The Swiss franc dropped further against the US dollar and held in negative territory despite the retreat in US equity prices. In Wall Street, the Dow Jones was rising 1.50% but far from the top. While stocks pulled back, USD/CHF rose further.

The other currency that serves as a safe haven is falling versus the US dollar. The Japanese yen is also weaker but not as much as the Swiss. The CHF/JPY cross resumed the decline and is set to extend the correction from one-year highs.

USD/CHF trims weekly losses

As of writing, the pair trades at 0.9525, up almost a hundred pips for the day. It still down for the week but far from the low. The weekly chart shows USD/CHF about to post the lowest close since March but significantly away from the bottom, suggesting some upside risks in the near term. If it drops back below 0.9500, the bearish pressure will likely intensify.

USD/CHF

Overview
Today last price	0.9524
Today Daily Change	0.0083
Today Daily Change %	0.88
Today daily open	0.9441

Trends
Daily SMA20	0.9625
Daily SMA50	0.9673
Daily SMA100	0.9673
Daily SMA200	0.9769

Levels
Previous Daily High	0.9461
Previous Daily Low	0.9376
Previous Weekly High	0.9651
Previous Weekly Low	0.9542
Previous Monthly High	0.9784
Previous Monthly Low	0.9589
Daily Fibonacci 38.2%	0.9428
Daily Fibonacci 61.8%	0.9408
Daily Pivot Point S1	0.9391
Daily Pivot Point S2	0.9342
Daily Pivot Point S3	0.9307
Daily Pivot Point R1	0.9476
Daily Pivot Point R2	0.951
Daily Pivot Point R3	0.956

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.

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