• As shown by the USD/CHF dropping below the parity, the Swiss franc recovers some ground vs. the greenback, gaining almost 0.90%.
  • A positive market mood keeps the US dollar under pressure.
  • USD/CHF Price Forecast: Drops on profit-taking but remains upward biased.

The USD/CHF plunged following the release of US Retail Sales, which came better than expected, though market players booked profits ahead of a later speech of Fed Chair Jerome Powell. At 0.9929, the USD/CHF is eyeing to re-test on March 23, 2020, daily low at around 0.9901.

Risk-on prevails as the market mood driver on Tuesday. Global equities are still trading in the green, while the greenback remains softer, despite better than expected US economic data. US Treasury yields remain elevated, with the 10-year Treasury yield rising seven and a half basis points, sitting at 2.960%, shy of the 3% threshold.

The US Dollar Index is getting hammered, influenced by a strong euro, losing 0.70%, currently at 103.409.

During the overnight session, the USD/CHF opened above the parity, though plummeted below the 50, 100, and 200-hour simple moving averages (SMAs), as some ECB speakers, led by Klaus Knot, who said that the ECB could hike 50-bps depending on data available.

USD/CHF Price Forecast: Technical outlook

The USD/CHF remains upward biased, despite retreating almost 1% on Tuesday. The daily moving averages (DMAs) reside well below the exchange rate. Also, the Relative Strenght Index (RSI), around 67.91, exited from overbought territory, opening the door for further upward pressure on the major.

That said, the USD/CHF first resistance level would be May 10 daily high at 0.9975. A breach of the latter would expose the parity at 1.000, followed by the YTD high at around 1.0064.

Key Technical Levels


Today last price 0.9929
Today Daily Change -0.0094
Today Daily Change % -0.94
Today daily open 1.0018
Daily SMA20 0.9771
Daily SMA50 0.9506
Daily SMA100 0.9354
Daily SMA200 0.9284
Previous Daily High 1.0064
Previous Daily Low 1.0008
Previous Weekly High 1.0049
Previous Weekly Low 0.9872
Previous Monthly High 0.9759
Previous Monthly Low 0.9221
Daily Fibonacci 38.2% 1.0029
Daily Fibonacci 61.8% 1.0043
Daily Pivot Point S1 0.9996
Daily Pivot Point S2 0.9973
Daily Pivot Point S3 0.9939
Daily Pivot Point R1 1.0052
Daily Pivot Point R2 1.0087
Daily Pivot Point R3 1.0109



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content

Recommended content

Editors’ Picks

EUR/USD extends slide to fresh two-week lows below 1.0400

EUR/USD extends slide to fresh two-week lows below 1.0400

Following a short-lasting recovery attempt in the early European session, EUR/USD has met fresh bearish pressure and declined below 1.0400. The dollar continues to gather strength amid risk aversion as investors await the PCE inflation data from the US.


GBP/USD stays below 1.2150 ahead of US data

GBP/USD stays below 1.2150 ahead of US data

GBP/USD is having a tough time gaining traction and trades below 1.2150 on Thursday as the dollar holds its ground in the risk-averse market environment. The US Bureau of Economic Analysis' PCE inflation data will be looked upon for fresh impetus.


Gold stays on the back foot, retreats toward $1,800

Gold stays on the back foot, retreats toward $1,800

Gold has lost its traction and declined toward $1,800 following a consolidation phase in the early European session. Although the benchmark 10-year US Treasury bond yield is down more than 1%, the broad-based dollar strength weighs on XAU/USD. 

Gold News

Breaking: Bitcoin price drops below $19,000

Breaking: Bitcoin price drops below $19,000

Bitcoin price has breached a critical area of support over the past few hours, dipping below $19,000. Transaction history shows that a large number of addresses acquired BTC above $20,000. 

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!