USD/CHF sits near 2-week tops, around mid-0.9700s ahead of NFP

  • USD/CHF regains some positive traction on the last day of the week.
  • The prevailing risk-on mood, some USD strength remained supportive.
  • Bulls might be reluctant to place aggressive bets ahead of NFP report.

The USD/CHF pair edged higher through the early European session on Friday and is currently placed near two-week tops, around mid-0.9700s.

Following the previous session's brief pause, the pair managed to regain some positive traction on the last trading day of the week and was looking to build on its recent steady recovery from multi-month lows set on December 31st.

Upside seems limited ahead of NFP

The prevailing risk-on mood, supported by the de-escalation of geopolitical tensions in the Middle East and optimism over the US-China phase-one trade deal, weighed on the Swiss franc's safe-haven status and remained supportive.

It is worth recalling that the prospect of an imminent war between the US and Iran ebbed on Wednesday after the US President Donald Trump signalled that there will be no further military action against the Islamic Republic. 

This coupled with some follow-through US dollar appreciation collaborated to the pair's positive tone. However, a modest weakness in the US Treasury bond yields might turn out to be the only factor capping gains for the USD.

Moreover, investors' reluctance to place any aggressive bets ahead of the closely watched US monthly jobs report (NFP) might further collaborate towards keeping a lid on any runaway rally for the major, at least for the time being.

Technical levels to watch


Today last price 0.9748
Today Daily Change 0.0016
Today Daily Change % 0.16
Today daily open 0.9732
Daily SMA20 0.976
Daily SMA50 0.9852
Daily SMA100 0.988
Daily SMA200 0.9918
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



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

Latest Forex News

Editors’ Picks

EUR/USD slips back to low ground amid coronavirus concerns

EUR/USD is trading closer to 1.08 coronavirus headlines are weighing heavily on the market. The US dollar remains bid despite falling US yields.  Earlier, the German IFO Business Climate beat with 96.1.


GBP/USD dips below 1.29 on USD strength

GBP/USD has dipped below 1.29 as the dollar gains ground amid coronavirus headlines. The EU and the UK prepare for formal post-Brexit due to talks kicking off next week. 


Crypto market consolidates prices while crushing traders' emotions

Top 3 prices remain in range and contradict indicators pointing south. Mild "fear" sentiment is inconsistent with prices in the upper range of the upward movement. XRP may be the surprise of the week and bounce upwards for technical reasons.

Read more

Gold hits fresh multi-year tops, eyeing $1700 mark

Gold continues scaling higher amid a fresh wave of the global risk-aversion trade. Heightened fears about the economic impact of the deadly coronavirus rattled investors. Absent relevant economic data is unlikely to hinder the ongoing strong move up.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info