USD/CHF jumps back closer to near 2-week tops, above mid-0.9900s


  • A modest pickup in the USD demand helped regain some traction.
  • Bulls seemed rather unaffected by the prevalent cautious mood.
  • Sliding US bond yields might hinder the USD uptick and cap gains.

The USD/CHF pair spiked to fresh session tops, around the 0.9960-65 region in the last hour, with bulls making a fresh attempt to build on the momentum further beyond the very important 200-day SMA.
 
Following the previous session's good two-way price swings, the pair managed to regain some positive traction and was being supported by a goodish pickup in the US Dollar demand. The incoming positive trade-related headlines reinforced prospects for a partial US-China trade deal and extended some support to the Greenback.

Focus remains on FOMC

Meanwhile, the intraday uptick seemed rather unaffected by a slightly softer tilt in the global risk mood, which tends to underpin the Swiss Franc's perceived safe-haven status. The USD bulls also shrugged off a sharp intraday slide in the US Treasury bond yields, albeit might turn out to be the only factor capping further gains.
 
Moving ahead, Tuesday's US economic docket – highlighting the release of the Conference Board's Consumer Confidence Index and pending home sales data – will be looked upon for some short-term trading impetus later during the early North-American session.
 
The key focus, however, will remain on the outcome of a highly anticipated FOMC meeting, starting this Tuesday. The Fed is scheduled to announce its policy decision during the US session on Wednesday, which will play a key role in influencing the near-term USD price dynamics and provide a fresh directional impetus.

Technical levels to watch

USD/CHF

Overview
Today last price 0.9961
Today Daily Change 0.0015
Today Daily Change % 0.15
Today daily open 0.9946
 
Trends
Daily SMA20 0.9936
Daily SMA50 0.9903
Daily SMA100 0.9875
Daily SMA200 0.9956
 
Levels
Previous Daily High 0.997
Previous Daily Low 0.9938
Previous Weekly High 0.9956
Previous Weekly Low 0.9841
Previous Monthly High 0.9988
Previous Monthly Low 0.9797
Daily Fibonacci 38.2% 0.995
Daily Fibonacci 61.8% 0.9958
Daily Pivot Point S1 0.9933
Daily Pivot Point S2 0.9919
Daily Pivot Point S3 0.99
Daily Pivot Point R1 0.9965
Daily Pivot Point R2 0.9984
Daily Pivot Point R3 0.9998

 

 

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 flirts with daily lows sub-1.1400

The EUR/USD pair is down to daily lows mid-US afternoon, as the dented market’s mood lifts the dollar. Upbeat US data and an on-hold ECB failed to impress investors.

EUR/USD News

GBP/USD returns to 1.2550 comfort zone

The GBP/USD pair keeps retreating from daily highs, now trading flat for the day around 1.2550. UK employment data came in better-than-anticipated but fell short of boosting sterling.

GBP/USD News

Gold prices walking a tightrope over 1,800 psychological level

Gold prices are trading a touch below the psychological $1,800 level in markets that have consolidated in a sea of fundamentals as traders await the next cue.

Gold News

Why is the crypto market falling today?

War for dominance impacts the market and heralds several days of turbulence. Fight between Bitcoin and Ethereum hurts the Altcoin segment, which is largely overbought after weeks of euphoria. Ripple is the most affected of the Top 3 and steps back into a high-risk environment.

Read more

Oil : The price action seems indecisive at these elevated levels

WTI is still in a bull trend on the chart below but at these elevated levels, it seems the price seems to be very jittery. Previously within this trend when the price moved higher the size of the bullish candles was bigger. 

Oil News

Forex MAJORS

Cryptocurrencies

Signatures