USD/CHF remains poised to gain beyond 0.9250 on stronger USD

USD/CHF consolidates gains for the past four sessions.
US dollar stays elevated despite disappointing ISM data, FOMC minutes eyed.
Swiss Franc holds the ground on upbeat economic data.

Rekha Chauhan Independent Analyst

The buying interest in the US dollar pushes USD/CHF higher in the Asian trading hours on Wednesday. The pair recovered sharply from the low of 0.9193 in the previous trading session to touch the high of 0.9251.

At the time of writing, USD/CHF is trading at 0.9247, up 0.04% for the day.

The US Dollar Index stands at 92.57%, with 0/13% gains. Investors rushed to the safe haven asset after weaker-than-expected US ISM data a day ahead of the FOMC minutes.

The Institute of Supply Management Non-Manufacturing PMI fell to 60.1 in June from an all-time high reading of 64 in the previous month and much below the market expectations at 63.5.

The downbeat data raised the concerns that the economic expansion is slowing down. Investors rushed to the greenback on its safe-haven appeal.

The US 10-year benchmark yields fell toward 1.35%, the lowest level in the past three months following the data.

On the other hand, the Swiss Franc remains on the backfoot after the latest data suggested that the domestic factory activity slowed unexpectedly in June.

As for now, traders are actively looking for the FOMC meeting for insight details about the Fed’s near-term inflation and monetary policy outlook.

USD/CHF additional levels

USD/CHF

Overview
Today last price	0.9247
Today Daily Change	0.0004
Today Daily Change %	0.04
Today daily open	0.9243

Trends
Daily SMA20	0.9141
Daily SMA50	0.9072
Daily SMA100	0.9151
Daily SMA200	0.9072

Levels
Previous Daily High	0.9251
Previous Daily Low	0.9194
Previous Weekly High	0.9274
Previous Weekly Low	0.9167
Previous Monthly High	0.9262
Previous Monthly Low	0.8926
Daily Fibonacci 38.2%	0.9229
Daily Fibonacci 61.8%	0.9216
Daily Pivot Point S1	0.9207
Daily Pivot Point S2	0.9172
Daily Pivot Point S3	0.915
Daily Pivot Point R1	0.9265
Daily Pivot Point R2	0.9287
Daily Pivot Point R3	0.9323

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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