USD/CHF rebounds from 10-day lows, trades near 1.0040

  • Improved market sentiment helps the pair turn north on Friday.
  • US Dollar Index posts small losses following yesterday's rebound.
  • Coming up: Industrial production and consumer confidence data from the U.S. 

Following a drop to its lowest level in 10 days at 1.0018 in the early European morning, the USD/CHF staged a modest recovery and was last seen trading at 1.0040, where it was virtually unchanged on the day.

Improved market sentiment on Friday seems to be weighing on the traditional safe-havens such as the CHF. British lawmakers' vote to delay Brexit and reports of the U.S. and China moving closer to a trade deal boosted the risk appetite. Chinese news agency Xinhua on Friday said Chinese Vice Premier Liu He had phone conversations with Treasury Secretary Mnuchin and Trade Representative Lighthizer and 'substantive progress' was made in trade negotiations. Reflecting the risk-on mood, Germany's DAX is now adding nearly 1% on the day and the UK's FTSE is up 0.65%.

On the other hand, the greenback is staying relatively calm on Friday with the US Dollar Index posting small losses in the 96.70-60 area ahead of the macroeconomic data releases from the United States and keeping the pair's upside capped. 

The NY Fed's Empire State Manufacturing Index, the UoM's Consumer Sentiment Survey, and industrial production data from the U.S. will be looked upon for fresh catalysts.

Technical levels to watch for


    Daily SMA20: 1.0032
    Daily SMA50: 0.9976
    Daily SMA100: 0.997
    Daily SMA200: 0.992
    Previous Daily High: 1.0052
    Previous Daily Low: 1.0028
    Previous Weekly High: 1.0125
    Previous Weekly Low: 0.9977
    Previous Monthly High: 1.01
    Previous Monthly Low: 0.9921
    Daily Fibonacci 38.2%: 1.0037
    Daily Fibonacci 61.8%: 1.0043
    Daily Pivot Point S1: 1.0027
    Daily Pivot Point S2: 1.0015
    Daily Pivot Point S3: 1.0003
    Daily Pivot Point R1: 1.0051
    Daily Pivot Point R2: 1.0063
    Daily Pivot Point R3: 1.0075



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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: retest of yearly low likely on a break below 1.1280

The EUR/USD pair closed the week in the red, following horrid European Markit March PMI that exacerbated concerns of slowing economic growth.


GBP/USD: Bulls and bears jostle near 1.3200 on Brexit developments

The GBP/USD pair is mild bid around 1.3210 during early Asian sessions on Monday. Optimism surrounding Brexit delay confronts the uncertainty over PM May’s post.


USD/JPY prints fresh six week low at 109.70

The yen was the best performer on Friday and sent USD/JPY down from 110.80 to 109.74 for a six-week low which has now been exceeded. The pair is under pressure at the start of the week.


US and European PMI data sends Dollar in two directions

Concerns about the direction of the global economy roiled the dollar as the business outlook in the United States faded and Europe's tilted towards recession. 

Read full report

Gold's net bullish positions snap three-week losing streak

Gold speculators increased their bullish net positions in the week ended March 19, the Commodity Futures Trading Commission (CFTC) data released on Friday showed. 

Gold News