USD/CHF extends slide to fresh daily lows below 0.9070


  • USD/CHF is falling for the fourth straight day on Monday.
  • US Dollar Index tests 93.00 ahead of the American session.
  • Wall Street looks to open the day decisively higher.

The USD/CHF pair failed to break above 0.9200 and closed in the negative territory last week. With the greenback struggling to find demand on Monday, the pair extended its slide and touched a fresh daily low of 0.9065. As of writing, USD/CHF was down 0.2% on the day at 0.9068.

USD weakens on risk flows

The US Dollar Index (DXY) capitalized on risk-off flows and closed higher for the second straight week. However, improving risk sentiment at the start of the week seems to be making it tough for the USD to attract investors. At the moment, the DXY is down 0.28% on a daily basis at 93.01.

There won't be any significant macroeconomic data releases featured in the US economic docket on Monday and investors will keep a close eye on Wall Street.

Reports revealing that AstraZeneca will restart the phase-3 trial of its potential COVID-19 vaccine allowed the market mood to turn upbeat. Additionally, Pfizer and BioNTech proposed to the US FDA to expand their phase-3 coronavirus vaccine trial to about 44,000 participants from 30,000 initially.

The S&P 500 futures are currently up 1.3% on the day and a potential sharp upsurge in Wall Street's main indexes could put additional weight on the USD's shoulders in the second half of the day.

Technical levels to watch for 

USD/CHF

Overview
Today last price 0.9067
Today Daily Change -0.0021
Today Daily Change % -0.23
Today daily open 0.9088
 
Trends
Daily SMA20 0.9099
Daily SMA50 0.9192
Daily SMA100 0.9398
Daily SMA200 0.955
 
Levels
Previous Daily High 0.9108
Previous Daily Low 0.908
Previous Weekly High 0.92
Previous Weekly Low 0.9049
Previous Monthly High 0.9242
Previous Monthly Low 0.8999
Daily Fibonacci 38.2% 0.909
Daily Fibonacci 61.8% 0.9097
Daily Pivot Point S1 0.9076
Daily Pivot Point S2 0.9063
Daily Pivot Point S3 0.9047
Daily Pivot Point R1 0.9104
Daily Pivot Point R2 0.912
Daily Pivot Point R3 0.9133

 

 

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