USD/CHF struggles to climb above 0.9000 in quiet day


  • USD/CHF moves sideways below 0.9000 following Friday's rebound.
  • US Dollar Index holds around mid-90.00s ahead of key events.
  • Wall Street's main indexes look to open little changed.

After closing the first four days of the previous week in the negative territory, the USD/CHF pair staged a rebound on Friday and inched close to 0.9000. After testing that level earlier in the day, however, the pair struggled to preserve its momentum and was last seen posting small daily gains at 0.8985.

DXY stays in a consolidation phase on Monday

In the absence of high-tier macroeconomic data releases and fundamental developments, major pair are having a difficult time making a decisive move in either direction. Reflecting the subdued market action, the US Dollar Index (DXY) is moving sideways around 90.50, where it closed on Friday.

The next data that could potentially impact the USD's valuation will be Tuesday's May Retail Sales report from the US. Nevertheless, investors could opt-out to remain on the sidelines while waiting for the FOMC to announce its policy decision and release the updated Summary of Economic Projections on Wednesday. 

US May Retail Sales Preview: Analyzing major pairs' reaction to previous releases.

On the other hand, the Swiss State Secretariat for Economic Affairs (SECO) will publish its Economic Forecasts on Tuesday.

Technical levels to watch for

USD/CHF

Overview
Today last price 0.8983
Today Daily Change 0.0003
Today Daily Change % 0.03
Today daily open 0.898
 
Trends
Daily SMA20 0.8984
Daily SMA50 0.9086
Daily SMA100 0.911
Daily SMA200 0.907
 
Levels
Previous Daily High 0.9
Previous Daily Low 0.8933
Previous Weekly High 0.901
Previous Weekly Low 0.8926
Previous Monthly High 0.9165
Previous Monthly Low 0.893
Daily Fibonacci 38.2% 0.8975
Daily Fibonacci 61.8% 0.8959
Daily Pivot Point S1 0.8942
Daily Pivot Point S2 0.8904
Daily Pivot Point S3 0.8875
Daily Pivot Point R1 0.9009
Daily Pivot Point R2 0.9038
Daily Pivot Point R3 0.9076

 

 

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