USD/CHF looks to breach 0.9160 amid firmer US dollar

USD/CHF has struggled to surpass 0.9160 as the risk-off episode has appealed more for the Swiss franc.
Biden-Putin summit is uncertain on Russia’s precursors to invade Ukraine.
The US Consumer Confidence and PMI Composite Reports will keep the investors busy.

Sagar Dua FXStreet

The USD/CHF pair has rebounded from the lows of 0.9155 on the mounting tensions over the Russia-Ukraine tussle. The investors have underpinned the greenback against the Swiss franc on safe-haven appeal.

As Russia has been supported by the Separatists to build military bases in eastern Ukraine, the market participants are considering it a precursor to invade Ukraine. The move has resulted in a breach of international law.

The Western leaders are set to retaliate against Russia by imposing sanctions, which may impact their economy. The Russian markets have started showing the impact, even getting no material sanction yet as the former plunges more than 10% on Monday.

Meanwhile, White House Principal Deputy National Security Adviser Jonathan Finer said there can be no diplomatic meetings with US-Russia foreign ministers or presidents if Russia takes further military action in Ukraine, as per Reuters.

It is worth noting that the greenback has been underperforming against the Swiss franc since last week, courtesy of the declining bets over a 50 basis points (bps) rate hike by the Federal Reserve (Fed) in March’s monetary policy committee (MPC) meeting.

The US dollar index (DXY) is heading strongly to breach 96.00 on improving safe-haven appeal. Further, the DXY is likely to be guided by the US Consumer Confidence and PMI Composite Reports on Tuesday. While the Swiss Centre for European Economic Research will release ZEW Survey Expectations on Wednesday that will impact the Swiss franc.

USD/CHF technical levels

USD/CHF

Overview
Today last price	0.9160
Today Daily Change	-0.0005
Today Daily Change %	-0.05
Today daily open	0.9165

Trends
Daily SMA20	0.9236
Daily SMA50	0.9203
Daily SMA100	0.9213
Daily SMA200	0.9178

Levels
Previous Daily High	0.9217
Previous Daily Low	0.915
Previous Weekly High	0.9274
Previous Weekly Low	0.9188
Previous Monthly High	0.9343
Previous Monthly Low	0.9092
Daily Fibonacci 38.2%	0.9176
Daily Fibonacci 61.8%	0.9192
Daily Pivot Point S1	0.9138
Daily Pivot Point S2	0.9111
Daily Pivot Point S3	0.9071
Daily Pivot Point R1	0.9205
Daily Pivot Point R2	0.9244
Daily Pivot Point R3	0.9272

Author

Sagar Dua

FXStreet

Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.

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