USD/CHF retreats to 0.9100 area as USD struggles to find demand


  • USD/CHF remains on track to close the week in the red.
  • US Dollar Index struggles to gain traction on Friday.
  • Fed's Evans says QE could be enhanced around spring.

The USD/CHF pair rose above 0.9120 during the European session but turned south in the early American trading hours. As of writing, the pair was down 0.08% on a daily basis at 0.9102. For the week, USD/CHF remains on track to post small losses.

DXY fails to stage a rebound

The greenback continues to have a difficult time finding demand on the last day of the week. In the absence of significant fundamental drivers and macroeconomic data releases, the US Dollar Index (DXY) fluctuates in a tight range below 93.50 on Friday. 

In an interview with CNBC, Chicago Federal Reserve Bank President Charles Evans said that they could do more to enhance the quantitative easing depending on how the economy looks in spring. Evans further reiterated that the Fed will keep rates at zero until maximum employment and the inflation goal is achieved. As of writing, the DXY was virtually unchanged on a daily basis at 92.29.

Meanwhile, Wall Street's main indexes look to open little changed, suggesting that the market sentiment is unlikely to provide a directional clue to USD/CHF

Technical levels to watch for

USD/CHF

Overview
Today last price 0.9102
Today Daily Change -0.0002
Today Daily Change % -0.02
Today daily open 0.9104
 
Trends
Daily SMA20 0.9116
Daily SMA50 0.9136
Daily SMA100 0.9167
Daily SMA200 0.9402
 
Levels
Previous Daily High 0.9139
Previous Daily Low 0.9104
Previous Weekly High 0.9192
Previous Weekly Low 0.8984
Previous Monthly High 0.9219
Previous Monthly Low 0.9031
Daily Fibonacci 38.2% 0.9118
Daily Fibonacci 61.8% 0.9126
Daily Pivot Point S1 0.9093
Daily Pivot Point S2 0.9081
Daily Pivot Point S3 0.9057
Daily Pivot Point R1 0.9128
Daily Pivot Point R2 0.9151
Daily Pivot Point R3 0.9163

 

 

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