USD/CHF needs to clear 0.9814/74 to reignite open interest – Commerzbank

Pablo Piovano FXStreet

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, buying interest in spot should re-emerge after clearing the 0.9814/74 band.

Key Quotes

“USD/CHF has eroded the 4 month resistance line and the .9700 August high. The opens the path to the current August highs at .9770/72. In order to reignite medium term upside interest we suspect that the currency pair will need to close above the .9814 end of March low and overcome the 55 week ma at .9874.Currently the intraday Elliott wave is conflicting however we suspect that dips will hold circa .9570”.

“Failure at .9417 (support line) would open the way for the October 2014 low at .9361 to be reached initially”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD retreats below 1.1800 as EU-US trade relations sour

EUR/USD loses its traction and retreats below 1.1800 following the earlier climb. The data from Germany highlighted a modest improvement in business sentiment in February but failed to help the Euro as investors assess the US-EU trade relations following Trump's global tariff hike announcement.

GBP/USD rises toward 1.3550 as tariff confusion slams USD

GBP/USD extends the advance toward 1.3550 on Monday. The US Dollar faces intense selling pressure as tariff uncertainty lingers following US President Trump's latest announcement. Traders will take more cues from the broader market sentiment and central bank talks.

Gold climbs above $5,100 on broad USD weakness

Gold sticks to its bullish bias near the monthly above $5,100 on Monday. Renewed trade-war fears, along with rising geopolitical tensions in the Middle East, turn out to be key factors that underpin the safe-haven precious metal and validate the constructive outlook.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.