USD/CHF extends sideways grind above 0.9200 as investors ignore US data

USD/CHF is struggling to make a decisive move in either direction.
Annual PPI in US came in higher than expected in July.
US Dollar Index continues to move up and down in tight range below 93.00.

Eren Sengezer FXStreet

Following the sharp upsurge witnessed earlier in the week, the USD/CHF pair registered losses on Wednesday and seems to have gone into a consolidation phase on Thursday. As of writing, the pair was up 0.08% on the day at 0.9226.

DXY stays below 93.00 after US data

Earlier in the day, the data from the US showed that Initial Jobless Claims declined by 12,000 in the week ending August 7 to 375,000 as expected. Additionally, the US Bureau of Labor Statistics reported that the Producer Price Index (PPI) rose to 7.8% in July from 7.3% in June in came in higher than analysts' estimate of 7.3%. Nevertheless, these figures failed to trigger a noticeable market reaction and the US Dollar Index was last seen fluctuating in a tight range below 93.00.

In the meantime, the benchmark 10-year US Treasury bond yield is up more than 2% on Thursday, helping USD/CHF stay afloat in the positive territory.

There won't be any other data releases featured in the US economic docket in the remainder of the day. On Friday, the Producer Price Index data from Switzerland and the University of Michigan's Consumer Sentiment Index data from the US will be looked upon for fresh impetus.

Technical levels to watch for

USD/CHF

Overview
Today last price	0.923
Today Daily Change	0.0010
Today Daily Change %	0.11
Today daily open	0.922

Trends
Daily SMA20	0.9144
Daily SMA50	0.9134
Daily SMA100	0.914
Daily SMA200	0.9074

Levels
Previous Daily High	0.9242
Previous Daily Low	0.9202
Previous Weekly High	0.9156
Previous Weekly Low	0.9019
Previous Monthly High	0.9274
Previous Monthly Low	0.904
Daily Fibonacci 38.2%	0.9218
Daily Fibonacci 61.8%	0.9227
Daily Pivot Point S1	0.9201
Daily Pivot Point S2	0.9182
Daily Pivot Point S3	0.9161
Daily Pivot Point R1	0.9241
Daily Pivot Point R2	0.9262
Daily Pivot Point R3	0.9281

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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