USD/CHF rebounds from 15-month lows, trades above 0.9700


  • US Dollar Index climbs above 96.70 on Thursday.
  • European stocks register strong gains at the start of 2020.
  • Wall Street's main indexes look to open decisively higher. 

The USD/CHF pair hit its lowest level since September of 2018 at 0.9645 on the last trading day of 2019 and has gone into a recovery phase on Thursday as the risk-on atmosphere made it difficult for CHF to find demand. As of writing, the pair was up 0.3% on the day at 0.9706.

Sentiment turns positive after New Year break

Markets cheered the People's Bank of China's (PBOC) decision to cut the Reserve Requirement Ratio by 50 basis points to inject a $100 billion worth of stimulus into the economy at the start of the new year. Major European equity indexes rose sharply with the Euro Stoxx 50 gaining more than 1% and Germany's DAX adding around 0.7% on Thursday.

Moreover, the S&P 500 futures are up more than 0.5% to suggest that Wall Street's main indexes are likely to flirt with fresh all-time highs after the opening bell.

In the meantime, the selling pressure surrounding the greenback seems to have softened with the US Dollar Index staging a rebound before mid-tier data releases, which will include weekly Jobless Claims and the IHS Manufacturing PMI, from the US. On Friday, the SVME PMI will ve the only data release from Switzerland ahead of the ISM Manufacturing PMI and the FOMC December meeting minutes from the US.

Technical levels to consider

USD/CHF

Overview
Today last price 0.9708
Today Daily Change 0.0026
Today Daily Change % 0.27
Today daily open 0.9682
 
Trends
Daily SMA20 0.9803
Daily SMA50 0.9877
Daily SMA100 0.9885
Daily SMA200 0.9926
 
Levels
Previous Daily High 0.9695
Previous Daily Low 0.9661
Previous Weekly High 0.9832
Previous Weekly Low 0.9729
Previous Monthly High 1.0009
Previous Monthly Low 0.9646
Daily Fibonacci 38.2% 0.9682
Daily Fibonacci 61.8% 0.9674
Daily Pivot Point S1 0.9664
Daily Pivot Point S2 0.9645
Daily Pivot Point S3 0.963
Daily Pivot Point R1 0.9698
Daily Pivot Point R2 0.9713
Daily Pivot Point R3 0.9732

 

 

Share: Feed news

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

USD/JPY off lows, stays pressured near 142.50 ahead of BoJ policy decision

USD/JPY off lows, stays pressured near 142.50 ahead of BoJ policy decision

USD/JPY has bounced off lows but remains pressured near 142.50 in the Asian session on Friday. Markets turn risk-averse and flock to the safety in the Japanese Yen while the Fed-BoJ policy divergence and hot Japan's CPI data also support the Yen ahead of the BoJ policy verdict. 

USD/JPY News
AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood

AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood

AUD/USD attacks 0.6800 in Friday's Asian trading, extending its gradual retreat after the PBOC unexpectedly left mortgage lending rates unchanged in September. A cautious market mood also adds to the weight on the Aussie. Fedspeak eyed. 

AUD/USD News
Gold price treads water below record peak, awaits Fedspeak

Gold price treads water below record peak, awaits Fedspeak

Gold price hovers below the all-time peak touched earlier this week amid a bearish US Dollar and rising bets for more upcoming rate cuts by the Fed. Concerns over an economic downturn in China keep the safe-haven Gold price afloat. Fedspeak remains on tap. 

Gold News
Bank of Japan set to keep rates on hold after July’s hike shocked markets

Bank of Japan set to keep rates on hold after July’s hike shocked markets

The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session. 

Read more
XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV

XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV

Ripple (XRP) gained 2.3% since the start of the week. The altcoin’s gains are likely powered by key market movers that include Ripple USD (RUSD) stablecoin, Grayscale XRP Trust performance and the demand for the altcoin among institutional investors.

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Forex MAJORS

Cryptocurrencies

Signatures