USD/CHF extends slide to 0.9160 area ahead of mid-tier US data

  • USD/CHF remains under bearish pressure for second straight day.
  • 10-year US Treasury bond yield is down more than 1%.
  • US Dollar Index stays in the negative territory below 92.50 ahead of US data.

After rising to its strongest level in a month at 0.9243 on Monday, the USD/CHF pair lost its traction and closed in the negative territory on Tuesday. Ahead of mid-tier data releases from the US, USD/CHF remains on the back foot on Wednesday and was last seen losing 0.4% on the day at 0.9167.

US T-bond yields continue to push lower

Although the risk-averse market environment helped the greenback stay relatively resilient against its rivals on Tuesday, the sharp decline witnessed in the US Treasury bond yields weighed heavily on USD/CHF. The benchmark 10-year US T-bond yield fell more than 3% on Tuesday and was last seen losing 1% at 1.27%.

In the meantime, the US Dollar Index is staying in the negative territory below 92.50, not allowing USD/CHF to stage a rebound.

In the second half of the day, the US Federal Reserve will release the Industrial Production and Capacity Utilization data for August. Additionally, the Federal Reserve Bank of New York will publish the Empire State Manufacturing Survey. Nevertheless, investors are likely to ignore these figures and remain focused on the US T-bond yields.

USD/CHF: Poised to challenge much tougher resistance at the 0.9274 July high – Commerzbank.

Technical levels to watch for


Today last price 0.9168
Today Daily Change -0.0036
Today Daily Change % -0.39
Today daily open 0.9204
Daily SMA20 0.9165
Daily SMA50 0.9158
Daily SMA100 0.9115
Daily SMA200 0.9087
Previous Daily High 0.9228
Previous Daily Low 0.9181
Previous Weekly High 0.9235
Previous Weekly Low 0.9127
Previous Monthly High 0.9242
Previous Monthly Low 0.9019
Daily Fibonacci 38.2% 0.9199
Daily Fibonacci 61.8% 0.921
Daily Pivot Point S1 0.9181
Daily Pivot Point S2 0.9158
Daily Pivot Point S3 0.9135
Daily Pivot Point R1 0.9228
Daily Pivot Point R2 0.9251
Daily Pivot Point R3 0.9275



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