USD/CHF rises for the third consecutive day, still down for the week and under 1.0100

  • US Dollar gains modestly versus Swiss franc after moving of highs. 
  • The recovery from May’s low in USD/CHF limited while below 1.0100. 

The USD/CHF pair is up on Thursday for the third-day in-a-row but it moved off highs and so far it has been unable to hold on top of the 1.0100 handle. The move to the upside took place amid a rally of the US dollar across the board. Considering European majors, the Swiss franc is among the top performers, even despite the decline of other safe haven assets like the Yen and Gold

Positive US housing data and building permits in April, and the advance in Philadelphia Fed business index, jointly with the strong labor markets, eased yesterday’s concerns about the health of the US economy, after both US industrial production and retail unexpectedly declined in March”, wrote BBVA analysts.  The data helped the US dollar. The DXY is up almost 0.3% having the best performance in more than a week. It is back into positive territory for the month. On Friday, economic data to be released includes EZ inflation and US Consumer Sentiment. 

Levels to watch 

The USD/CHF peaked at 1.0106 the highest levels since Monday and then pulled back. It is hovering slightly above 1.0090. If the pair breaks and holds on top of 1.0100 it would signal more gains ahead. Above the next resistance is seen at 1.0130 and 1.0160. 

To the downside, the immediate support is located at 1.0090, followed by 1.0065 and then the critical 1.0050 (weekly low). The short-term bias will likely prevail as long as price holds below 1.0130. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

EUR/USD pressured around 1.13 after jump in US jobs

EUR/USD is trading around 1.13, down after US Non-Farm Payrolls shocked with a leap of 2.5 million jobs in May, contrary to all projections. The greenback is gaining while stocks are falling, a correlation breakdown. ECB stimulus previously supported the euro.


GBP/USD retreats from highs

GBP/USD is trading below 1.27, off the highs. The pound is struggling after Chief EU Negotiator Barnier reported little progress in Brexit talks. Robust US jobs support the dollar.


Gold sees weekly closing below $1700 - a caution for bulls

The steady decline in Gold prices (futures on Comex) accelerated on Friday, as the rates closed the week below the 1700 mark for the first time in three weeks at 1688.35. A weekly closing below the key 1700 level is unlikely to bode well for the bulls.

Gold News

Institutional demand exceeds Bitcoins supply

Greyscale floods the market with fresh money to satisfy the demand of its clients. Investors, willing to pay a 29% surcharge for exposure to Bitcoin without suffering the legal and operational inconveniences. Market remains at risk on the verge of new bullish territory.

Read more

WTI rallies above $39 as focus shifts to OPEC+ meeting

Crude oil prices built on Thursday's modest gains and rose sharply on Friday boosted by the upbeat market mood optimism surrounding Saturday's OPEC+ meeting. 

Oil News