USD/CHF steadily climbs to 1-week tops, around mid-0.9900s

  • The USD attracts some bids despite softer US inflation data.
  • Bulls seemed unaffected by the prevailing cautious mood.
  • Move beyond 200-DMA needed to confirm additional gains.

The USD/CHF pair maintained its bid tone through the early North-American session and climbed to near one-week tops, around mid-0.9900s in the last hour.

After an initial dip to the 0.9900 neighbourhood, the pair regained positive traction - marking the third consecutive session of up-move and built on its recent bounce from multi-month lows. 

The up-move seemed unaffected by the prevailing cautious mood, which tends to underpin the Swiss Franc's safe-haven status, with a modest US Dollar uptick providing a modest lift in the last hour.

Despite softer US consumer inflation figures for May, which reinforced market expectations that the Fed will move to cut interest rates, the greenback attracted some bids and remained supportive of the up-move.

It, however, remains to be seen if the uptick is backed by any genuine buying - negating the recent bearish trend, or is solely led by some near-term short-covering, which runs the risk of fizzling out rather quickly.

Hence, it would be prudent to wait for a sustained recovery back above the very important 200-day SMA before traders start positioning for any further appreciating move towards reclaiming the parity mark.

Technical levels to watch


Today last price 0.9946
Today Daily Change 0.0022
Today Daily Change % 0.22
Today daily open 0.9924
Daily SMA20 1.0016
Daily SMA50 1.0075
Daily SMA100 1.0037
Daily SMA200 0.9965
Previous Daily High 0.9937
Previous Daily Low 0.9891
Previous Weekly High 1.0017
Previous Weekly Low 0.9854
Previous Monthly High 1.0227
Previous Monthly Low 1
Daily Fibonacci 38.2% 0.9919
Daily Fibonacci 61.8% 0.9909
Daily Pivot Point S1 0.9898
Daily Pivot Point S2 0.9871
Daily Pivot Point S3 0.9852
Daily Pivot Point R1 0.9944
Daily Pivot Point R2 0.9963
Daily Pivot Point R3 0.999



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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD extends its gains toward 1.1300 after the dovish Fed decision

EUR/USD has extended its gains after the Fed opened the door to cutting interest rates, stating that uncertainties have increased. Markets are awaiting EU leaders to divvy up top jobs.


GBP/USD holds onto gains after retail sales, ahead of the BOE

GBP/USD has extended its gains above 1.2700 after the Fed opened the door to rate cuts. UK retail sales fell by 0.5% in May as expected. The BOE's decision and two more rounds of the Conservative contest await traders.


USD/JPY rebounds from multi-month lows, continues to trade below 108

Fed's dovish shift continues to weigh on the greenback. 10-year US Treasury bond yield plummets to lowest level since November 2016. Wall Street looks to open sharply higher on Thursday.


Gold eases from multi-year tops, still well bid near $1380 level

Gold built on the post-FOMC upsurge and rallied to near six-year tops during the Asian session on Thursday, albeit retreated a bit thereafter.

Gold News

FOMC: Prelude to a rate cut?

The Federal Reserve added little new to its policy prescript in Wednesday’s FOMC statement and economic projections and with the anticipation for a July rate cut long priced into market levels the reaction was decidedly uninvolved.

Read more