USD/CHF retreats below 0.9730 from two-week highs

US dollar loses momentum near the end of the week after US data.
Despite moving off weekly highs, USD/CHF still up for the week.

Matías Salord FXStreet

The USD/CHF pair failed to hold onto daily gains and is trading at 0.9725, around the same level it closed on Thursday, with a bearish intraday bias. Earlier today, it peaked a 0.9762, the highest level in two weeks, and then it turned to the downside.

USD loses momentum after NFP

The greenback dropped after the release of US data. The employment report came in below expectations and weighed on the US dollar. Initially, the USD fell, it quickly recovered, but following the beginning of the American session, it decisively lost momentum across the board.

The decline in DXY took place amid lower yields and a decline in equity prices in Wall Street. The 10-year yield dropped to 1.82%, a two-day low. Markets have stabilized today after the tensions in the Middle East triggered volatility.

Despite the concerns around the Middle East, equity markets are about to end the week higher. Also, the currencies that usually appreciate during times of tensions are lower. USD/CHF is trading a few pips above the levels it had a week ago. The Swiss franc rose across the board over the last hours, probably a consequence of investor positioning for the weekend.

Technical levels

USD/CHF

Overview
Today last price	0.9734
Today Daily Change	0.0002
Today Daily Change %	0.02
Today daily open	0.9732

Trends
Daily SMA20	0.976
Daily SMA50	0.9852
Daily SMA100	0.988
Daily SMA200	0.9918

Levels
Previous Daily High	0.9748
Previous Daily Low	0.9711
Previous Weekly High	0.9757
Previous Weekly Low	0.9646
Previous Monthly High	1.0009
Previous Monthly Low	0.9646
Daily Fibonacci 38.2%	0.9734
Daily Fibonacci 61.8%	0.9725
Daily Pivot Point S1	0.9713
Daily Pivot Point S2	0.9693
Daily Pivot Point S3	0.9675
Daily Pivot Point R1	0.975
Daily Pivot Point R2	0.9768
Daily Pivot Point R3	0.9788

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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