USD/CHF pulls away from multi-month highs, trades around 0.9330


  • USD/CHF touched its highest level since July on Monday.
  • US Dollar Index stays in the positive territory above 92.00.
  • Investors remain focused on US T-bond yields in the absence of data releases.

The USD/CHF pair gained more than 200 pips last week and preserved its bullish momentum during the first half of the day on Monday. After touching its highest level since July at 0.9353, however, the pair retreated modestly and was last seen gaining 0.25% on the day at 0.9332.

DXY edges lower following earlier rally 

The USD's market valuation continues to dominate USD/CHF's movements. The US Dollar Index, which tracks the greenback's performance against a basket of six major rivals, climbed to its best level in more than three months at 92.33. In the absence of significant fundamental drivers, rising US Treasury bond yields helped USD find demand.

Although the benchmark 10-year US T-bond yield rose more than 2% earlier in the day, it lost its traction ahead of the American session and is currently up 1% on the day while the DXY is rising 0.25% at 92.22.

Ahead of Wednesday's Consumer Price Index (CPI) data from the US, market participants are likely to continue to react to movements in the US T-bond yields.  

Meanwhile, heightened hopes for the coronavirus relief bill to be signed into law later this week seems to be helping market sentiment improve and keeping the DXY's upside limited for the time being. 

Technical levels to watch for

USD/CHF

Overview
Today last price 0.9332
Today Daily Change 0.0022
Today Daily Change % 0.24
Today daily open 0.931
 
Trends
Daily SMA20 0.9036
Daily SMA50 0.8946
Daily SMA100 0.8985
Daily SMA200 0.9124
 
Levels
Previous Daily High 0.9319
Previous Daily Low 0.9258
Previous Weekly High 0.9319
Previous Weekly Low 0.9071
Previous Monthly High 0.9102
Previous Monthly Low 0.8871
Daily Fibonacci 38.2% 0.9296
Daily Fibonacci 61.8% 0.9281
Daily Pivot Point S1 0.9272
Daily Pivot Point S2 0.9234
Daily Pivot Point S3 0.9211
Daily Pivot Point R1 0.9333
Daily Pivot Point R2 0.9357
Daily Pivot Point R3 0.9394

 

 

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