USD/CHF surrenders tepid recovery gains, consolidates near mid-0.9400s

Haresh Menghani FXStreet

The USD/CHF pair surrendered early tepid recovery gains to 0.9475 level and gravitated back closer to 14-month lows touched on Friday.

A fresh wave of global risk aversion trade, as depicted by the prevalent bearish trading sentiment around European equity markets was seen benefitting the Swiss Franc's safe-haven appeal and weighing on the major.

Meanwhile, the key US Dollar Index consolidated recent losses to 13-month lows, on growing doubts over the US President Donald Trump's ability to push through his promised pro-growth economic agenda, and did little to provide any immediate respite of the major.

From a technical perspective, today's price-action would still be categorized a consolidative phase amid near-term oversold conditions. Later during the NA session, the US PMI prints and existing home sales data would now be looked upon for some trading impetus.

However, the key focus would remain on Wednesday's FOMC monetary policy decision, which would a key determinant of the pair's next leg of directional move.

Technical levels to watch

A follow through selling pressure below 0.9445-40 region has the potential to continue dragging the pair further towards the 0.9400 handle. On the flip side, sustained recovery beyond 0.9475 level (session tops) now seems to lift the pair beyond the key 0.95 psychological mark towards its next hurdle near mid-0.9500s.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD eyes nine-day EMA barrier after rebounding from 1.1600

EUR/USD gains ground after registering modest losses in the previous session, trading around 1.1620 during the Asian hours on Friday. The technical analysis of the daily chart suggests an ongoing bearish bias as the pair remains within the descending channel pattern.

GBP/USD: Pound Sterling ticks up against US Dollar in countdown to US NFP

The Pound Sterling trades marginally higher to near 1.3365 against the US Dollar during the Asian trading session on Friday. The GBP/USD pair edges up as the US Dollar ticks down ahead of the United States Nonfarm Payrolls data for February, which will be published at 13:30 GMT.

Gold awaits US Nonfarm Payrolls for a clear directional impetus

Gold rebounds above $5,100 early Friday after testing the $5,050 level amid global sell-off. The US Dollar pulls back as profit-taking creeps in ahead of US labor data. For February. 21-day SMA holds amid bullish RSI; a daily closing above 61.8% Fibo is critical for Gold buyers.

Top Crypto Gainers: Lombard, Humanity Protocol, OKB rally on US Fed’s tokenized securities clarity, NYSE investment

Lombard, Humanity Protocol, and OKB rally over the last 24 hours, securing the top-gainer spots in the early Asian session. The US Federal Reserve issued clarity on tokenized securities, which expands its utility and reduces regulatory friction with US banks, driving the Real-World Assets tokenization crypto projects.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.