USD/CHF recovers from daily lows on US Treasury yields rebound

USD/CHF prints milder gains on Wednesday in the Asian session.
Higher US Treasury yields underpin the demand for the US dollar.
The Swiss franc losses part of its gain on general risk-on sentiment.

Rekha Chauhan Independent Analyst

USD/CHF consolidates gains in the Asian trading hours on Wednesday. After testing the low at around 0.9111 in the previous session’s, the pair retraced back and made a high of 0.9139 in the initial trading session.

At the time of writing, USD/CHF is trading at 0.9130, up 0.08% for the day.

The US Treasury yields trade higher at 1.29% with 0,53% gains. The US Dollar Index (DXY) diverges from the benchmark 10-year yields movement and trades below 93.00, which capped the gains for USD/CHF.

US New home sales in the US grew 1% to 708K in July, which came in line with the market expectations of 700K.

Meantime, House Democrats approved a $3.5 trillion budget resolution package to support the US economy.

It is worth noting that S&P 500 Futures were trading at 4,480, down 0.03%, hit an all-time high in the US session.

As for now, traders are waiting for the Swiss Economic Sentiment Index, US Durable Goods Orders data to gauge the market sentiment.

USD/CHF additional levels

USD/CHF

Overview
Today last price	0.913
Today Daily Change	0.0006
Today Daily Change %	0.07
Today daily open	0.9124

Trends
Daily SMA20	0.9135
Daily SMA50	0.9163
Daily SMA100	0.9121
Daily SMA200	0.9076

Levels
Previous Daily High	0.9178
Previous Daily Low	0.9123
Previous Weekly High	0.9207
Previous Weekly Low	0.91
Previous Monthly High	0.9274
Previous Monthly Low	0.904
Daily Fibonacci 38.2%	0.9144
Daily Fibonacci 61.8%	0.9157
Daily Pivot Point S1	0.9105
Daily Pivot Point S2	0.9086
Daily Pivot Point S3	0.905
Daily Pivot Point R1	0.9161
Daily Pivot Point R2	0.9197
Daily Pivot Point R3	0.9217

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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