USD/CHF pullback from 0.9175 high, contained at 0.9125

US dollar contained above 0.9115 after reaching levels near 0.9200.
The greenback maintains its near-term bid-tone, coming up from five-year lows.
Swiss franc suffers as hopes of a COVID-19 Cure boost risk appetite.

Guillermo Alcala FXStreet

The US dollar remains positive for the second consecutive day against the Swiss franc as the pair’s intra-day reversal from 0.91.75 session high has found support at 0.9125.

Swiss franc dives on risk appetite

The greenback remains steady above 0.9100 after having appreciated about 1.8% over the last two days, coming up from five-year lows at 0.8980, fuelled by the risk rally triggered by news of a COVID-19 cure.

The promising results of Pfizer’s vaccine, revealing a 90% effectiveness have boosted appetite for risk on Monday, which hurt demand for safe-havens like the Swiss Franc or the Japanese yen. Furthermore, the sharp increase of the US Treasury Bond yields, which reached their highest level since March, provided further upside traction to the USD.

On the macroeconomic front, the US calendar has shown mixed figures. The NFIB Business Optimism Index has remained flat at 104 in October, against market expectations of deterioration to 102. while the JOLTS job openings increased to 6.436 million from 6.352 million in September, falling short of the 6.5 million market consensus. The impact of these figures, however, has been practically ignored by the market.

Technical levels to watch

USD/CHF

Overview
Today last price	0.9142
Today Daily Change	0.0005
Today Daily Change %	0.05
Today daily open	0.9137

Trends
Daily SMA20	0.9107
Daily SMA50	0.9135
Daily SMA100	0.9195
Daily SMA200	0.9427

Levels
Previous Daily High	0.914
Previous Daily Low	0.8984
Previous Weekly High	0.9208
Previous Weekly Low	0.8982
Previous Monthly High	0.9219
Previous Monthly Low	0.9031
Daily Fibonacci 38.2%	0.9081
Daily Fibonacci 61.8%	0.9044
Daily Pivot Point S1	0.9034
Daily Pivot Point S2	0.8931
Daily Pivot Point S3	0.8878
Daily Pivot Point R1	0.9191
Daily Pivot Point R2	0.9244
Daily Pivot Point R3	0.9347

Author

Guillermo Alcala

FXStreet

Graduated in Communication Sciences at the Universidad del Pais Vasco and Universiteit van Amsterdam, Guillermo has been working as financial news editor and copywriter in diverse Forex-related firms, like FXStreet and Kantox.

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

XRP struggles around $1.40 despite institutional inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.