USD/CHF sits near two-week tops, eyeing a move beyond 200-DMA

  • Risk-on mood/trade optimism weighed on the CHF’s safe-haven status.
  • The USD fails to benefit from the ongoing recovery in the US bond yields.

The USD/CHF pair climbed to near two-week tops, around 0.9960 region in the last hour, albeit struggled to extend the momentum further beyond the very important 200-day SMA.
The pair quickly reversed an early dip to the 0.9935 region and turned higher for the sixth consecutive session on Monday. The incoming positive trade-related headlines remained supportive of a generally risk-on mood and weighed on traditional safe-haven currencies – including the Swiss Franc.

Subdued USD demand seemed to cap gains

It is worth reporting that the US Trade Representative's office on Friday said that the US and China have made progress in trade talks and have come close to finalizing parts of a “phase one” trade deal. The US officials have said they hope to sign a deal in mid-November.
Fading safe-haven demand was further reinforced by a strong intraday rally in the US Treasury bond yields. The US Dollar, however, failed to attract any meaningful buying interest and turned out to be the only factor that might keep a lid on any runaway rally for the major.
Hence, it will be prudent to wait for some strong follow-through buying before traders start positioning for any further appreciating move back towards reclaiming the key parity mark amid absent relevant market moving economic releases from the US.

Technical levels to watch


Today last price 0.995
Today Daily Change 0.0004
Today Daily Change % 0.04
Today daily open 0.9946
Daily SMA20 0.9937
Daily SMA50 0.99
Daily SMA100 0.9874
Daily SMA200 0.9956
Previous Daily High 0.9956
Previous Daily Low 0.9907
Previous Weekly High 0.9956
Previous Weekly Low 0.9841
Previous Monthly High 0.9988
Previous Monthly Low 0.9797
Daily Fibonacci 38.2% 0.9937
Daily Fibonacci 61.8% 0.9926
Daily Pivot Point S1 0.9917
Daily Pivot Point S2 0.9887
Daily Pivot Point S3 0.9868
Daily Pivot Point R1 0.9966
Daily Pivot Point R2 0.9985
Daily Pivot Point R3 1.0015



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

Latest Forex News

Editors’ Picks

EUR/USD advances above 1.14 after unchanged ECB, mixed US data

EUR/USD is trading above 1.14, higher after the ECB left policy unchanged and called governments to act. US retail sales beat with 7.5% while jobless claims disappointed with 1.3 million. US coronavirus figures are showing further increases in cases.


GBP/USD stable around 1.26 amid mostly upbeat US, UK data

GBP/USD is trading closer to 1.26, marginally higher. The UK jobs reports showed low unemployment but also depressed wages. US retail sales beat expectations but jobless claims remain high. 


Gold trades with modest losses, downside remains limited

Gold witnessed a modest intraday pullback amid a pickup in the USD demand. The prevalent risk-off mood extended some support to the safe-haven metal. A sustained break below $1800 is needed to confirm a bearish break.

Gold News

Why is the crypto market falling today?

War for dominance impacts the market and heralds several days of turbulence. Fight between Bitcoin and Ethereum hurts the Altcoin segment, which is largely overbought after weeks of euphoria. Ripple is the most affected of the Top 3 and steps back into a high-risk environment.

Read more

WTI: 200-HMA is a tough nut to crack amid rising wedge breakdown

WTI has bounced-off lows, still sheds over 1% to trade around $40.80, as the OPEC and its allies’ (OPEC+) decision to ease output cuts from next month weighs.

Oil News