USD/CHF recovers early lost ground, jumps back closer to 0.9900 handle

  • The US CPI-led upsurge in the US bond yields helped the USD to gain some traction.
  • Positive equities undermined the CHF’s safe-haven demand and remained supportive.

The USD/CHF pair quickly reversed an early North-American session dip and has now rallied back closer to the top end of its daily trading range.

In a delayed reaction to hotter-than-expected US core CPI print, a goodish pickup in the US Treasury bond yields helped the US Dollar to recover the early lost ground and turned out to be one of the key factors behind the pair's intraday bounce.

In fact, consumer inflation excluding food and energy prices (the so-called core CPI) jumped 0.3% in June, marking the biggest rise in a year and a half, while the yearly rate also edged up to 2.1% from 2.0% recorded in the previous month and expected. 

Adding to this, the number of people applying for unemployment related benefits unexpectedly fell to the lowest level in more than three months during the week ended July 6, which provided an additional boost to the greenback and remained support.

This coupled with improving risk sentiment - as depicted by a positive mood around equity markets, dented demand for perceived safe-haven currencies - including the Swiss Franc, and further collaborated to the pair's sudden rise of around 40-45 pips.

It would now be interesting to see if the current leg of an up-move marks the resumption of the recent recovery move from yearly lows or meets with some fresh supply at higher levels amid reviving hopes for an aggressive Fed rate cut move later this July.

Technical levels to watch


Today last price 0.9887
Today Daily Change -0.0008
Today Daily Change % -0.08
Today daily open 0.9895
Daily SMA20 0.9868
Daily SMA50 0.998
Daily SMA100 1.0011
Daily SMA200 0.9983
Previous Daily High 0.9943
Previous Daily Low 0.9887
Previous Weekly High 0.9932
Previous Weekly Low 0.978
Previous Monthly High 1.0017
Previous Monthly Low 0.9693
Daily Fibonacci 38.2% 0.9908
Daily Fibonacci 61.8% 0.9922
Daily Pivot Point S1 0.9874
Daily Pivot Point S2 0.9852
Daily Pivot Point S3 0.9818
Daily Pivot Point R1 0.993
Daily Pivot Point R2 0.9964
Daily Pivot Point R3 0.9986



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 consolidates around 1.1150 amid mixed trade headlines

EUR/USD is trading around 1.1150, consolidating previous gains. President Trump has expressed optimism about clinching a deal with China, while some officials have cast doubts. Brexit headlines are set to impact the euro as well.


GBP/USD slides toward 1.29 ahead of critical vote on the Brexit deal

GBP/USD falling toward 1.29 as parliament is set to debate and vote on UK PM Johnson's Brexit deal. The vote on the program to complete the process quickly is also critical. 


USD/JPY holds steady above mid-108.00s

The USD/JPY pair failed to capitalize on the early uptick to multi-day tops and is currently placed at the lower end of its daily trading range, just above mid-108.00s.


Gold edges up to $1490 area, lacks follow-through

Gold edged higher through the early European session on Tuesday and is currently placed at the top end of its daily trading range, around the $1489 region.

Gold News

Brexit drama does not deter the pound

Despite an unending series of Parliamentary setbacks for Prime Minister Boris Johnson’s attempt to clinch the UK exit from the European Union, Sterling has retained almost all of its gains of the past ten days, suggesting that his Brexit deal will eventually be approved.

Read more