USD/CHF pushes lower toward 0.9200 as USD selloff picks up steam


  • USD/CHF is trading in a tight range on Tuesday.
  • US Dollar Index is falling for the second straight day.
  • Major European equity indexes trade in the negative territory.

The USD/CHF pair rose to its highest level in more than two months at 0.9299 on Monday but reversed its direction to close the day with a 40-pip loss. During the early trading hours of the European session, the pair continued to edge lower and was last seen losing 0.28% on the day at 0.9219.

Eyes on US data, presidential debate

The selling pressure surrounding the greenback seems to be causing the pair to remain under bearish pressure. The US Dollar Index (DXY), which lost 0.33% on Monday, is currently down 0.25% at 94.04. In the absence of significant fundamental drivers and macroeconomic data releases, the DXY's slide on Tuesday could be seen as a technical correction of last week's impressive 1.7% gain.

Later in the day, Goods Trade Balance and the Conference Board's Consumer Confidence data will be featured in the US economic docket. Moreover, NY Federal Reserve President John Willams and Randal Quarles, Vice-Chair of the Federal Reserve, will be delivering speeches.

Additionally, the first presidential debate will take place at 0100 GMT on Wednesday. Although Wall Street will already be closed at the time of the debate, investors will be paying close attention to potential changes in market sentiment. A risk-off market environment in the near-term could help the DXY re-gain its traction.

Meanwhile, major European equity indexes are down between 0.25% and 0.4% on Tuesday, reflecting a cautious market mood. 

Technical levels to watch for

USD/CHF

Overview
Today last price 0.9222
Today Daily Change -0.0022
Today Daily Change % -0.24
Today daily open 0.9244
 
Trends
Daily SMA20 0.9147
Daily SMA50 0.9138
Daily SMA100 0.9338
Daily SMA200 0.9514
 
Levels
Previous Daily High 0.9296
Previous Daily Low 0.9241
Previous Weekly High 0.9296
Previous Weekly Low 0.9087
Previous Monthly High 0.9242
Previous Monthly Low 0.8999
Daily Fibonacci 38.2% 0.9262
Daily Fibonacci 61.8% 0.9275
Daily Pivot Point S1 0.9225
Daily Pivot Point S2 0.9206
Daily Pivot Point S3 0.917
Daily Pivot Point R1 0.9279
Daily Pivot Point R2 0.9315
Daily Pivot Point R3 0.9334

 

 

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

Latest Forex News


Latest Forex News

Editors’ Picks

LIVE: Trump and Biden clash in final debate, tensions are high

US President Trump and former VP Biden have their last chances to influence undecided voters on the national stage. Markets are watching. Live. 

FOLLOW US LIVE

EUR/USD stable around 1.1820 ahead of US presidential debate

The EUR/USD pair spent the American session consolidating around 1.1820. Hopes for a US stimulus deal backed the greenback ahead of the US presidential debate.

EUR/USD News

Gold: Bears seeking a continuation below key daily support

Gold prices are back under pressure and below a critical trendline on the daily chart. The swing trading opportunities are caught up in the wash of volatility. A day trading strategy could offer an opportunity if price obeys market structure.

Gold News

AUD/USD fuelled 0.2% by strong PMI Composite in early Asia

AUD is up on the day so far as early data gives the bulls a head start. Early Asia has been kind to Aussie bulls with the price of the currency extending its late New York gains with a robust Construction PMI report, solidly above the 50.0 expansion level, arriving at 54.2.

AUD/USD News

WTI bulls keep the fuell buring into Wall Street close

West Texas Intermediate crude oil is higher on the day, although has run into resistance and started to consolidate.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures