USD/CHF: keeps eye on 0.9140 amid risk aversion and Swiss consumer confidence data

USD/CHF advances from earlier lows around 0.9100.
Risk-prone investors shy away from the safe-haven Swiss franc.
Swiss Consumer Confidence data eyed for fresh traction.

Rekha Chauhan Independent Analyst

The Swiss franc depreciates further against its counterpart USD and lifts the USD/CHF pair to fresh multi-day highs near 0.9120 in the Asian session. The prices quickly recovered from the lows of 0.9103 and touched the intraday highs of 0.9118.

USD/CHF advances for the third consecutive session on the back of further selling bias around the Swiss franc as investors' risk-appetites improve on upbeat global economic recovery prospects.

At the time of writing, the USD/CHF pair is trading at 0.9116, up 0.08% on the day.

The move was exclusively sponsored by the depreciation in the demand for the safe-haven asset in the wake of improved economic conditions across regions. The US dollar index (DXY), which tracks the movement of the greenback, remains depressed near 91. The index remained unaffected after the FOMC Chairman Jerome Powell delivered a much-anticipated speech on US economic progress on Monday, as he said “Economy is not out of the woods yet but is now making real progress”.

In the meantime, the focus of attention will be on the Swiss Consumer Confidence data, which declined to -14.6 in Q1 2021. Apart from that, investors should keep their eyes on the US Balance of Trade for March, Monthly Factory Orders, and IBD/TIPP Economic Optimism in May for fresh trade impetus.

USD/CHF additional level

USD/CHF

Overview
Today last price	0.9121
Today Daily Change	0.0013
Today Daily Change %	0.14
Today daily open	0.9108

Trends
Daily SMA20	0.9184
Daily SMA50	0.924
Daily SMA100	0.9068
Daily SMA200	0.9085

Levels
Previous Daily High	0.9148
Previous Daily Low	0.9093
Previous Weekly High	0.9182
Previous Weekly Low	0.908
Previous Monthly High	0.9473
Previous Monthly Low	0.908
Daily Fibonacci 38.2%	0.9114
Daily Fibonacci 61.8%	0.9127
Daily Pivot Point S1	0.9085
Daily Pivot Point S2	0.9062
Daily Pivot Point S3	0.903
Daily Pivot Point R1	0.9139
Daily Pivot Point R2	0.9171
Daily Pivot Point R3	0.9194

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

EUR/USD keeps the rangebound trade near 1.1850

EUR/USD is still under pressure, drifting back towards the 1.1850 area as Monday’s session draws to a close. The modest decline in spot comes as the US Dollar picks up a bit of support, while thin liquidity and muted volatility, thanks to the US market holiday, are exaggerating price swings and keeping trading conditions choppy.

GBP/USD flirts with daily lows near 1.3630

GBP/USD has quickly given back Friday’s solid gains, turning lower at the start of the week and drifting back towards the 1.3630 area. The focus now shifts squarely to Tuesday’s UK labour market report, which is likely to keep the quid firmly in the spotlight and could set the tone for Cable’s next move.

Gold battle around $5,000 continues

Gold is giving back part of Friday’s sharp rebound, deflating below the key $5,000 mark per troy ounce as the new week gets underway. Modest gains in the US Dollar are keeping the metal in check, while thin trading conditions, due to the Presidents Day holiday in the US, are adding to the choppy and hesitant tone across markets.

AI Crypto Update: Bittensor eyes breakout as AI tokens falter

The artificial intelligence (AI) cryptocurrency segment is witnessing heightened volatility, with top tokens such as Near Protocol (NEAR) struggling to gain traction amid the persistent decline in January and February.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.