USD/CHF hangs near weekly lows, around 0.9730 region

  • USD/CHF witnessed some follow-through selling on Thursday amid notable USD supply.
  • The Fed’s unlimited QE, sliding US bond yields kept exerting pressure on the greenback.
  • The cautions mood benefitted the CHF’s safe-haven status and added to the selling bias.

The USD/CHF pair edged lower through the early European session and is currently placed near the lower end of its weekly trading range, around the 0.9730-25 region.

The pair extended this week's retracement slide from the 0.9900 round-figure mark, or YTD tops set on Monday and remained depressed for the third consecutive session amid persistent selling bias around the US dollar.

The Fed's unprecedented QE program to buy unlimited amounts of Treasury bonds and mortgage-backed securities helped ease concerns about tightening liquidity and prompted investors to continue dumping the greenback.

Even the latest optimism over the passage of a massive $2 trillion US economic relief package failed to provide any respite to the USD, while a fresh leg down in the US Treasury bond yields exerted some additional pressure.

On the other hand, the prevailing cautious mood – amid mounting fears over the economic fallout from the coronavirus pandemic – benefitted the Swiss franc's safe-haven status and further contributed to the pair's weaker tone.

It will now be interesting to see if the pair is able to find any support at lower levels or extends its downward trajectory as market participants now look forward to the US economic docket for a fresh impetus.

Thursday's economic docket features the release of the highly anticipated US initial weekly jobless claims. This coupled with the final US Q4 GDP growth figures will influence the USD price dynamics and produce some trading opportunities.

Technical levels to watch


Today last price 0.9737
Today Daily Change -0.0034
Today Daily Change % -0.35
Today daily open 0.9771
Daily SMA20 0.9592
Daily SMA50 0.9681
Daily SMA100 0.9758
Daily SMA200 0.9814
Previous Daily High 0.9835
Previous Daily Low 0.9755
Previous Weekly High 0.9901
Previous Weekly Low 0.9392
Previous Monthly High 0.9851
Previous Monthly Low 0.9609
Daily Fibonacci 38.2% 0.9785
Daily Fibonacci 61.8% 0.9804
Daily Pivot Point S1 0.9739
Daily Pivot Point S2 0.9707
Daily Pivot Point S3 0.9659
Daily Pivot Point R1 0.9819
Daily Pivot Point R2 0.9867
Daily Pivot Point R3 0.9898



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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.


GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.


XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI once again breaks $40 per barrel after trading lower in early EU trade

There has been quite the bounce in WTI since the EU session after some strong selling pressure during Thursday and overnight. Once again on Friday's session, the price has taken the USD 40 per barrel handle. 

Oil News