• The USD/CHF cuts some of Monday’s losses amidst a mixed market sentiment.
  • Falling US Treasury yields weigh on the greenback, which losses against most currencies except the Swiss franc.
  • USD/CHF Price Forecast: Range-bound within 0.9300-70 amid the lack of a fresh impulse.

The USD/CHF advances for the second consecutive day and is about to trim Monday’s losses amid a mixed market mood as portrayed by European and US equities fluctuating between gainers and losers as global bond yields fall. In the FX space, safe-haven peers remain the laggards, while the greenback remains defensive against most peers but the Swiss franc. At the time of writing, the USD/CHF is trading at 0.9333.

Meanwhile, US Treasury yields remain downward pressured, with the 10-year benchmark note down from 2.788% highs to 2.672%, a headwind for the greenback, as the US Dollar Index, a gauge of the buck’s value vs. six currencies, edges down 0.25%, sitting at 100.069.

USD/CHF Price Forecast: Technical outlook

Overnight, the USD/CHF was subdued In the Asian Pacific session, but in the European one, it edged up above the R1 daily pivot, lying at 0.9353, forming a tweezer-top candlestick chart pattern, which dragged the USD/CHF down towards the 100-hour simple moving average (SMA) at 0.9332.

Meanwhile, the USD/CHF daily chart depicts the pair as upward biased, but it has remained consolidated in the 0.9300-70 area since April 6, amidst the lack of a catalyst.

Upwards, the USD/CHF’s first resistance would be the March 28 daily high at 0.9381. A breach of the latter would expose the psychological 0.9400 level, followed by the YTD high at 0.9460. On the downside, the USD/CHF first support would be 0.9300. A decisive break would expose the 50-day moving average (DMA) at 0.9270, followed by the 100-DMA at 0.9234 and the 200-DMA at 0.9213.

Technical levels to watch

USD/CHF

Overview
Today last price 0.9333
Today Daily Change 0.0006
Today Daily Change % 0.06
Today daily open 0.9331
 
Trends
Daily SMA20 0.9312
Daily SMA50 0.927
Daily SMA100 0.9238
Daily SMA200 0.9216
 
Levels
Previous Daily High 0.9345
Previous Daily Low 0.9287
Previous Weekly High 0.9374
Previous Weekly Low 0.9238
Previous Monthly High 0.946
Previous Monthly Low 0.915
Daily Fibonacci 38.2% 0.9323
Daily Fibonacci 61.8% 0.9309
Daily Pivot Point S1 0.9297
Daily Pivot Point S2 0.9263
Daily Pivot Point S3 0.9239
Daily Pivot Point R1 0.9355
Daily Pivot Point R2 0.9379
Daily Pivot Point R3 0.9413

 

 

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