- USD/CHF bears remain in control for the fourth straight session on Thursday.
- The USD consolidated its post-FOMC losses and failed to provide any respite.
- SNB leaves interest rates unchanged at -0.75% and did little to influence.
The USD/CHF pair remained under some selling pressure for the fourth consecutive session on Thursday and dropped to fresh three-month lows post-SNB.
The pair extended this week's sharp retracement slide from levels just above the 0.9800 handle and continued losing ground through the early European session on Thursday.
Despite a slight improvement in the global risk sentiment, which tends to dent the Swiss franc's traditional safe-haven status, the pair struggled to register any meaningful recovery.
Bulls failed to gain any respite from a subdued US dollar demand, which consolidated the previous session's heavy losses led by a dovish assessment of the latest FOMC policy statement.
The pair moved little, rather had a muted reaction to Thursday's SNB monetary policy decision, wherein the Swiss central bank maintained status-quo and left the policy rate unchanged at -0.75%.
It will now be interesting to see if the pair is able to attract any buying interest or continues with its bearish trajectory traders now eye US Producer Price Index (PPI) for a fresh impetus.
Technical levels to watch
|Today last price||0.982|
|Today Daily Change||-0.0003|
|Today Daily Change %||-0.03|
|Today daily open||0.9823|
|Previous Daily High||0.9864|
|Previous Daily Low||0.9813|
|Previous Weekly High||1.0009|
|Previous Weekly Low||0.9855|
|Previous Monthly High||1.0024|
|Previous Monthly Low||0.985|
|Daily Fibonacci 38.2%||0.9833|
|Daily Fibonacci 61.8%||0.9845|
|Daily Pivot Point S1||0.9802|
|Daily Pivot Point S2||0.9782|
|Daily Pivot Point S3||0.9751|
|Daily Pivot Point R1||0.9854|
|Daily Pivot Point R2||0.9885|
|Daily Pivot Point R3||0.9905|
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