USD/CHF slips to five-month lows as Swiss Franc draws haven bids

The US-Iran war has unsettled risk assets in Asia.
The Swiss Franc and other safe havens are drawing bids.
The USD/CHF has dropped to the lowest level since mid-August.

Omkar Godbole FXStreet Contributor

Swiss Franc is drawing haven bids as the Iranian attack on US bases in Iraq has unsettled risk assets, triggering a flight to safety.

The USD/CHF pair is currently trading at 0.9671, representing a 0.35% drop on the day. Also, 0.9671 is the lowest level since August 13.

US-Iran tussle

Iran attacked US assets in Iraq early Wednesday in response to last Friday's US killing of top Iranian military commander.

The attack has been confirmed by the US and there are reports of American casualties.

As per the latest reports, the US national council is meeting following Iranian ballistic missile attack and with elections due in November, President Trump may feel forced to launch a stronger retaliatory attack on Iran.

The risk assets, therefore, are bleeding with the Dow futures currently reporting a 400 point drop. The stocks in Asia are also flashing red. For instance, Japan's Nikkei index is down more than 500 points at press time.

Meanwhile, the Swiss Franc and other classic haven assets like gold, Japanese yen, and US treasuries are gaining ground.

Technical levels

USD/CHF

Overview
Today last price	0.9671
Today Daily Change	-0.0039
Today Daily Change %	-0.40
Today daily open	0.971

Trends
Daily SMA20	0.977
Daily SMA50	0.9858
Daily SMA100	0.9882
Daily SMA200	0.9921

Levels
Previous Daily High	0.9731
Previous Daily Low	0.9676
Previous Weekly High	0.9757
Previous Weekly Low	0.9646
Previous Monthly High	1.0009
Previous Monthly Low	0.9646
Daily Fibonacci 38.2%	0.971
Daily Fibonacci 61.8%	0.9697
Daily Pivot Point S1	0.9681
Daily Pivot Point S2	0.9651
Daily Pivot Point S3	0.9626
Daily Pivot Point R1	0.9736
Daily Pivot Point R2	0.976
Daily Pivot Point R3	0.979

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.