USD/CHF kicking back into the 200-day SMA, cracks 0.9000 on solid US data beats

The USD/CHF is toying with 0.9000 as the Greenback gets bid into a third straight day of gains.
Little of note for the Franc on the economic calendar until next Tuesday's Swiss Retail Sales.
US Durable Goods, GDP figures soundly trounce market expectations, though labor data sees more unemployed.

Joshua Gibson FXStreet

The USD/CHF is trading directly into the 0.9000 major handle as US data beats drive the US Dollar (USD) higher against the Swiss Franc (CHF) for Thursday.

US Gross Domestic Product (GDP) and Durable Goods Orders both firmly beat the street, vaulting over forecasts and sparking a bid in the Greenback, despite a soft miss for US labor figures that saw an uptick in Continuing & Initial Jobless Claims.

Next Tuesday will see Swiss Retail Sales figures. In the meantime, there's little Swiss economic calendar data for CHF traders to chew on following Wednesday's miss in the ZEW business conditions expectations survey, which slipped from -27.6 to -37.8.

US GDP expands at an annual rate of 4.9% in Q3 vs. 4.2% expected

US GDP printed at a stellar 4.9% for the annualized 3rd quarter, handily beating market forecasts of 4.2% and vaulting over the previous quarter's 2.1% printing.

US Durable Goods Orders for September likewise came in well above the waterline, growing 4.7% for the month compared to August's downward-revised -0.1% (originally printed at 0.2%).

US Initial Jobless Claims bucked the trend to come in below expectations, showing an additional 210K new jobless benefits seekers for the week into October 20th, compared to the previous week's 200K (revised upwards from 198K).

USD/CHF Technical Outlook

The US Dollar is testing into the long side of 0.9000 against the Franc after slipping from the price level last week, and is trading back into the 200-day Simple Moving Average (SMA).

The pair is catching some technical support from the 50-day SMA currently lifting into 0.8974, trapping bids in the midrange and squeezing the USD/CHF higher.

Last week's swing low into the 0.8900 level etches in near-term support, with the technical ceiling resting at early October's swing high bids near0.9250.

USD/CHF Daily Chart

USD/CHF Technical Levels

USD/CHF

Overview
Today last price	0.9002
Today Daily Change	0.0034
Today Daily Change %	0.38
Today daily open	0.8968

Trends
Daily SMA20	0.9048
Daily SMA50	0.8969
Daily SMA100	0.8897
Daily SMA200	0.901

Levels
Previous Daily High	0.8969
Previous Daily Low	0.8921
Previous Weekly High	0.9042
Previous Weekly Low	0.8902
Previous Monthly High	0.9225
Previous Monthly Low	0.8795
Daily Fibonacci 38.2%	0.8951
Daily Fibonacci 61.8%	0.8939
Daily Pivot Point S1	0.8936
Daily Pivot Point S2	0.8904
Daily Pivot Point S3	0.8888
Daily Pivot Point R1	0.8985
Daily Pivot Point R2	0.9001
Daily Pivot Point R3	0.9033

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

EUR/USD holds losses near 1.1850 as US, China holidays keep trade muted

EUR/USD opens the week on a softer note, trading near 1.1860 during the Asian session on Monday. Activity is likely to remain muted, with United States markets closed for the Presidents’ Day holiday, while Mainland China is also shut for the week-long Lunar New Year break.

GBP/USD flat lines as traders await key UK macro data and FOMC minutes

The GBP/USD pair kicks off a new week on a subdued note and oscillates in a narrow range, just below mid-1.3600s, during the Asian session. Moreover, the mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold remains below $5,050 despite Fed rate cut bets, uncertain geopolitical tensions

Gold edges lower after registering over 2% gains in the previous session, trading around $5,030 per troy ounce during the Asian hours on Monday. However, the non-interest-bearing Gold could further gain ground following softer January Consumer Price Index figures, which reinforced expectations that the Federal Reserve could cut rates later this year.

Week ahead: Data blitz, Fed Minutes and RBNZ decision in the spotlight

The US jobs report for January, which was delayed slightly, didn’t do the dovish Fed bets any favours, as expectations of a soft print did not materialize, confounding the raft of weak job indicators seen in the prior week.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.