USD/CHF steadily climbs back above mid-0.9200s, fresh session tops

  • A goodish pickup in the USD demand assisted USD/CHF to regain positive traction on Monday.
  • Hawkish Fed expectations, a fresh leg up in the US bond yields acted as a tailwind for the USD.
  • A softer risk tone might underpin the safe-haven CHF and cap any further gains for the major.

The USD/CHF pair built on its stead intraday ascent and climbed to fresh daily tops, around the 0.9260 region during the early European session.

The pair managed to regain some positive traction on the first day of a new trading week and inched back closer to Friday's swing high amid a goodish pickup in the US dollar demand. The prospects for an early policy tightening by the Fed pushed the yield on the benchmark 10-year US government bond back closer to the 1.60% threshold. This, in turn, was seen as a key factor that acted as a tailwind for the greenback.

The FOMC meeting minutes released last Wednesday reaffirmed that the Fed remains on track to begin rolling back its massive pandemic-era stimulus by the end of 2021. The markets also seem to have started pricing in the possibility of an interest rate hike in 2022 amid worries that the recent widespread rally in commodity prices will stoke inflation. This further contributed to the spike in the bond yields.

Meanwhile, fears about a faster than expected rise in inflation, along with signs of a global economic slowdown have been fueling concerns about the return of stagflation. Adding to this, Monday's disappointing Chinese macro data weighed on investors' sentiment. This was evident from a generally softer tone around the equity markets, which could benefit the safe-haven Swiss franc and cap gains for the USD/CHF pair.

Market participants now look forward to the release of US Industrial Production data for some impetus later during the early North American session. This, along with US bond yields, might influence the USD price dynamics. Traders will further take cues from the broader market risk sentiment for some meaningful opportunities around the USD/CHF pair.

Technical levels to watch


Today last price 0.9252
Today Daily Change 0.0022
Today Daily Change % 0.24
Today daily open 0.923
Daily SMA20 0.9272
Daily SMA50 0.9217
Daily SMA100 0.9168
Daily SMA200 0.9134
Previous Daily High 0.9264
Previous Daily Low 0.9222
Previous Weekly High 0.9313
Previous Weekly Low 0.9194
Previous Monthly High 0.9368
Previous Monthly Low 0.9116
Daily Fibonacci 38.2% 0.9238
Daily Fibonacci 61.8% 0.9248
Daily Pivot Point S1 0.9213
Daily Pivot Point S2 0.9196
Daily Pivot Point S3 0.9171
Daily Pivot Point R1 0.9255
Daily Pivot Point R2 0.9281
Daily Pivot Point R3 0.9297



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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD climbs above 1.1250 as investors eye coronavirus headlines

EUR/USD preserved its recovery momentum early Friday and rose above 1.1250 during the European trading hours. Markets are doubting the Fed's policy tightening prospects as the new coronavirus variant revives concerns over the economic recovery losing steam.


GBP/USD rebounds toward mid-1.3300s on broad dollar weakness

GBP/USD reversed its direction after dipping below 1.3300 earlier in the day and started to push higher toward 1.3350. The greenback is facing heavy selling pressure amid the sharp decline witnessed in the 10-year US Treasury bond yield.


Gold clings to strong gains above $1,800 as US T-bond yields plunge Premium

Gold staged a decisive rebound on Friday and reclaimed $1,800. The intense flight to safety is causing US Treasury bond yields to fall sharply and fueling XAU/USD's rally. Investors await news on vaccines' effectiveness against the new COVID variant.

Gold News

Cardano could tank to $1 if ADA fails to defend crucial support

Cardano price is currently hovering below a freshly shattered 6-hour demand zone, ranging from $1.68 to $1.79. This resulting crash could extend to the immediate and critical foothold at $1.40. 

Read more

Black Friday 2021 Discounts!

Do you want to take your trading skills to the next level? Now you have a chance of leaping forward at attractive introductory rates. For Black Friday, FXStreet is offering discounts of up to 50% on its upgraded Premium plans. 

Subscribe now!