USD/CHF goes into consolidation after rising to two-week highs above 0.9200

  • USD/CHF stays relatively quiet after closing in the green on Tuesday.
  • US Dollar Index is moving sideways near 93.00.
  • Wall Street's main indexes look to build on Tuesday's gains.

After failing to close the day above 0.9200 on Monday, the USD/CHF pair gained traction and reached its highest level since July 8 at 0.9233 on Tuesday. With the market action turning subdued in the absence of high-tier data releases and fundamental drivers, the pair seems to have cone into a consolidation phase and was last seen trading flat at 0.9217.

DXY rally loses steam

The USD's market valuation continues to impact USD/CHF's movements in the first half of the week. The US Dollar Index (DXY) closed the fourth straight trading day in the positive territory on Tuesday and advanced to its highest level since early April at 93.19 on Wednesday. At the moment, the index is moving sideways around 93.00.

However, the sharp rebound witnessed in Wall Street's main indexes limited the DXY's upside. The S&P 500 Index rose 1.5% on Tuesday and made it difficult for the greenback to preserve its strength. Currently, S&P Futures are up 0.45%, suggesting that the bullish momentum in US stocks is likely to remain intact after the opening bell.

The US economic docket will not be offering any data in the remainder of the day and the risk perception is likely to continue to impact currency valuation. 

Technical levels to watch for


Today last price 0.9217
Today Daily Change 0.0001
Today Daily Change % 0.01
Today daily open 0.9216
Daily SMA20 0.9196
Daily SMA50 0.9091
Daily SMA100 0.9164
Daily SMA200 0.9073
Previous Daily High 0.9233
Previous Daily Low 0.9172
Previous Weekly High 0.9204
Previous Weekly Low 0.9118
Previous Monthly High 0.9262
Previous Monthly Low 0.8926
Daily Fibonacci 38.2% 0.921
Daily Fibonacci 61.8% 0.9195
Daily Pivot Point S1 0.9181
Daily Pivot Point S2 0.9146
Daily Pivot Point S3 0.9121
Daily Pivot Point R1 0.9242
Daily Pivot Point R2 0.9268
Daily Pivot Point R3 0.9302



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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD hovers around 1.1900, retains weekly gains

The EUR/USD pair trades around the 1.19 mark after the Eurozone Q2 Prelim GDP beat estimates with 2% while US PCE inflation rose by less than anticipated in June, printing at 3.5% YoY. Risk-on mood persists.


GBP/USD retreats after flirting with 1.4000

GBP/USD retreated from near the 1.4000 level, but the greenback remains away from investors' radar. Optimism over the Brexit issue and the declining trend in new COVID-19 cases in the UK offers support to the pound.


XAU/USD slides to $1,820 area, downside seems limited

Gold traded with a mild negative bias around the $1,825 region, or daily lows, during the early North American session, albeit lacked any follow-through selling.

Gold News

Shiba gets listed on eToro as demand for SHIB skyrockets

Leading investment platform eToro has been adding cryptocurrency assets on popular demand from users. The Dogecoin killer recently amassed 600,000 holders despite range-bound price action. 

Read more

NIO shares rise again as Wall Street shrugs off recent China woes

NYSE:NIO added 1.86% as EV and China stocks bounced back again. Nio rides higher as industry leader Tesla gets some major upgrades. Nio rival XPeng releases a refreshed look for its compact SUV.

Read more