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


Today last price 0.9332
Today Daily Change 0.0022
Today Daily Change % 0.24
Today daily open 0.931
Daily SMA20 0.9036
Daily SMA50 0.8946
Daily SMA100 0.8985
Daily SMA200 0.9124
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



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Get Weekly Crypto trade ideas!  
Empower yourself with the best market insights

Join FXStreet Premium!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD stabilizes after US retail sales smash estimates

EUR/USD has bounced off its lows but remains below 1.20 after US retail sales smashed estimates with a 9.8% leap. Moreover, jobless claims tumbled to 576,000. Markets are digesting the big bulk of data.


GBP/USD rises toward 1.38 ahead of Brexit meeting

GBP/USD maintains a cautious approach below 1.3800, accumulating minor losses. Global risk uncertainties weigh on the pair. Investors await the Brexit meeting on the NI issue.


ETH seizes the spotlight as BTC and XRP contemplate retracement

Bitcoin price shows a correction in play after the MRI flashed a red ‘one’ cycle top signal. Ethereum shows a strong trend continuation while the rest of the market experiences a minor pullback. 

Read more

XAU/USD jumps above $1,760 amid slumping US T-bond yields

Gold extended its daily rally beyond $1,760 on Thursday. 10-year US Treasury bond yield is down more than 4% on the day. US Dollar Index falls into the negative territory below 91.60.

Gold News

Citi (C) beats on EPS and revenue, investment banking booms!

Citigroup (NYSE:C) reports Q1 2021 earnings showing strong growth in investment banking following on from Goldman smashing it on Wednesday. Citi shares are trading $74.20 in pre-market up nearly 2%.

Read more