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


Today last price 0.9961
Today Daily Change 0.0015
Today Daily Change % 0.15
Today daily open 0.9946
Daily SMA20 0.9936
Daily SMA50 0.9903
Daily SMA100 0.9875
Daily SMA200 0.9956
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



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