USD/CHF prints fresh highs above 0.9930 on US data and trade deal optimism

  • US Dollar accelerates recovery after US ISM non-manufacturing shows significant recovery. 
  • USD/CHF up more than fifty pips for the day, the best performance in over a month. 

The USD/CHF pair continued to rise after the beginning of the American session and peaked at 0.9933, the highest level since last Wednesday. It is moving with a bullish bias since yesterday. 

Trade deal optimism and USD strength 

Earlier today, safe-haven currencies including the Swiss Franc weakened amid optimism surrounding US-China trade deal negotiations. More recently US data added more fuel to the rally of the Greenback that was already supported by higher yields. 

The US ISM non-manufacturing index came in at 54.7 above the 53.5 expected and on top of the previous reading of 52.5. “The ISM non-manufacturing index rose a little more than predicted in October and fits with the narrative of a Fed pause at the December FOMC meeting,” explained ING analysts. 

Levels to watch 

The USD/CHF has risen 80 pips since the beginning of the week and is back above the 20-day moving average that stands at 0.9910, now a support area. On the upside, the critical level might be seen at 0.9950: a daily close clearly on top would clear the way to more gains and to a potential test of 0.9990. 

On the flip side, as mentioned 0.9910 is a relevant support, below the bullish pressure will ease. The next support levels might be seen at 0.9890 and 0.9865. 


Today last price 0.993
Today Daily Change 0.0050
Today Daily Change % 0.51
Today daily open 0.988
Daily SMA20 0.9918
Daily SMA50 0.9912
Daily SMA100 0.9871
Daily SMA200 0.9955
Previous Daily High 0.9889
Previous Daily Low 0.9852
Previous Weekly High 0.997
Previous Weekly Low 0.985
Previous Monthly High 1.0028
Previous Monthly Low 0.9837
Daily Fibonacci 38.2% 0.9875
Daily Fibonacci 61.8% 0.9866
Daily Pivot Point S1 0.9858
Daily Pivot Point S2 0.9836
Daily Pivot Point S3 0.9821
Daily Pivot Point R1 0.9896
Daily Pivot Point R2 0.9911
Daily Pivot Point R3 0.9933



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