USD/CHF hits one-month highs above 0.9700

Swiss franc among worst performers amid higher yields.
USD/CHF breaks key range and extends rally.
EUR/CHF at the highest level in 11 days.

Matías Salord FXStreet

The USD/CHF is holding onto daily gains on tis was to the highest close in a month. The pair peaked during the Asian session at 0.9707 and then pulled back, finding support at 0.9655/60.

The bias in USD/CHF is bullish in the short-term but while it remains unable to hold above 0.9700, the upside seems limited. A slide under 0.9600 could change the bias to bearish.

Dollar erases gains, Swissy fails to recover

The US dollar weakened during the American session and kept USD/CHF below 0.9700. The DXY is flat on Monday, hovering around 108.80, after hitting a multi-decade high at 109.47.

Comments from European Central Bank policymakers during the weekend pushed European yields to the upside and weighed on the Swiss franc. The German 10-year yield is at 1.50%, about to post the highest close since late June.

The EUR/CHF is up for the second day in a row and peaked at 0.9696, the highest since August 18. It is back above the 20-day Simple Moving Average. A key resistance area is located around 0.9700 and a break higher could trigger more gains.

Technical levels

USD/CHF

Overview
Today last price	0.9693
Today Daily Change	0.0035
Today Daily Change %	0.36
Today daily open	0.9658

Trends
Daily SMA20	0.9554
Daily SMA50	0.962
Daily SMA100	0.9663
Daily SMA200	0.945

Levels
Previous Daily High	0.967
Previous Daily Low	0.9578
Previous Weekly High	0.9692
Previous Weekly Low	0.9574
Previous Monthly High	0.9886
Previous Monthly Low	0.9502
Daily Fibonacci 38.2%	0.9634
Daily Fibonacci 61.8%	0.9613
Daily Pivot Point S1	0.96
Daily Pivot Point S2	0.9543
Daily Pivot Point S3	0.9508
Daily Pivot Point R1	0.9692
Daily Pivot Point R2	0.9727
Daily Pivot Point R3	0.9784

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

AUD/USD sticks to neutral bias above 0.7100 amid cautious markets

AUD/USD holds steady above 0.7100 in the Asian session on Monday as the US Dollar stalls its modest pullback from the highest level since late July amid persistent geopolitical uncertainties. The PBOC status quo on Loan Prime Rates also weighs on the Aussie. However, bets on another RBA rate hike continue to underpin the Australian Dollar ahead of the Trump-Xi Summit.

USD/JPY eases below 157.00 amid looming intervention risks

USD/JPY is easing back below 157.00 in Asia on Monday, undermined by modest Japanese Yen strength amid looming intervention risks after Friday's BoJ rate check. A Japanese holiday also keeps traders on edge amid escalating geopolitical tensions between Russia and Ukraine and in the Middle East. As a result, the US Dollar pauses its pullback, limiting the pair's downside.

Gold meets resistance around $4,400

Gold kicks in the new trading with on the back foot, keeping its trade near $4,350 per troy ounce. The precious metal’s correction comes on the back of the firmer US Dollar and espite declining US Treasury yields across the curve.

Bitcoin hits $85,000 for the first time in eight months

Bitcoin price reclaims $85,000 on Monday, advancing last week’s 5% recovery toward an eight-month high. The recovery in King Crypto aligns with renewed institutional demand, with Exchange Traded Funds (ETFs) recording $433 million in inflows on Friday.

The week ahead: Fuel prices in focus as we lead up to key eco releases

Financial markets are in a strange position as we move to the final weeks of Q3, uncertainty and volatility continue to grip markets, but the oil price is falling; and European and US stocks are poised to open higher later on Monday. Market stresses are concentrated in sovereign bonds, and European and US yields had another scare late on Friday, and moved higher.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.