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. 

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

 

 

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