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.

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