- 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.
Technical levels to watch for
|Today last price||0.9102|
|Today Daily Change||-0.0002|
|Today Daily Change %||-0.02|
|Today daily open||0.9104|
|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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