TRENDING:

GBP/USD

XAU/USD

USD/CHF reverses part of Friday’s steep loss

Haresh Menghani FXStreet

The USD/CHF pair staged a recovery bounce on Monday and reversed part of Friday's sharp slide closer to mid-0.9800s.

Currently trading around 0.9885 region, the pair on Friday came under intense selling pressure on news of FBI probe on Clinton's email linked to an earlier investigation over handling of classified information as state secretary.

However, growing market expectations of an eventual Fed rate-hike provided downside support and helped the pair to witness a tepid recovery back towards 0.9900 handle

Later during NA session, US economic docket that include the release of Core PCE Price Index (Fed's preferred inflation gauge), personal income / spending data and Chicago PMI will provide fresh impetus.

From technical perspective, the pair on Friday found support and is rebounding from 38.2% Fibonacci retracement level of 0.9640-0.9999 up-move. Hence, Friday's sell-off could be categorized as a corrective slide within a well-established near-term up-trend.

Technical levels to watch

Immediate upside resistance is pegged near 0.9900 handle above which the pair is likely to extend the recovery momentum further towards 0.9930 strong horizontal resistance. On the downside, renewed weakness below 0.9870 immediate support now seems to drag the pair below Friday's swing low towards its next support near 0.9840.

1. R3 0.9899
2. R2 0.9891
3. R1 0.9884
PP 0.9875
1. S1 0.9868
2. S2 0.9860
3. S3 0.9853

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD moves sideways below 1.1800 on Christmas Eve

EUR/USD struggles to find direction and trades in a narrow channel below 1.1800 after posting gains for two consecutive days. Bond and stock markets in the US will open at the usual time and close early on Christmas Eve, allowing the trading action to remain subdued.

GBP/USD keeps range around 1.3500 amid quiet markets

GBP/USD keeps its range trade intact at around 1.3500 on Wednesday. The Pound Sterling holds the upper hand over the US Dollar amid pre-Christmas light trading as traders move to the sidelines heading into the holiday season.

Gold retreats from record highs, trades below $4,500

Gold retreats after setting a new record-high above $4,520 earlier in the day and trades in a tight range below $4,500 as trading volumes thin out ahead of the Christmas break. The US Dollar selling bias remains unabated on the back of dovish Fed expectations, which continues to act as a tailwind for the bullion amid persistent geopolitical risks.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Legal Text

Markets move fast. We move first.

Editor's Picks

Best Brokers in 2025