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

USD/CHF

Overview
Today last price 0.9946
Today Daily Change 0.0022
Today Daily Change % 0.22
Today daily open 0.9924
 
Trends
Daily SMA20 1.0016
Daily SMA50 1.0075
Daily SMA100 1.0037
Daily SMA200 0.9965
Levels
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 bouncing modestly on disappointing US Consumer Confidence

The shared currency remains pressured by the idea that the ECB will come out with massive stimulus measures in September. US Michigan Consumer Confidence down to 92.1 brakes dollar's gains.

EUR/USD News

GBP/USD retreats sharply after approaching 1.2200

The GBP/USD pair came under selling pressure after flirting with weekly highs, as a dismal US confidence report brought back risk-off. GBP/USD still up for the week and above the critical 1.2100 level.

GBP/USD News

USD/JPY: Greenback makes modest progress against Yen, near 106.30

The demand for Yen as a safe-haven currency has been weak in the last three days. The levels to beat for bulls are at the 106.30 and 106.55 resistances.

USD/JPY News

Gold gives back territory towards a 23.6% retracement

Gold prices were a touch lower by the end of the week, falling -0.68% having travelled between a high of $1,528.00 to a low of $1,503.87, ending the NY session around $1,513. 

Gold News

Four Signs of A Bear Market

I am a believer that the Universe gives you signs. That may sound a bit crazy, but these three charts are three more signs of a bear market. The top chart is the GLD exchange traded fund.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •