USD/CHF technical analysis: 1.0095/1.0100 acts as immediate upside barrier

The latest failure to clear 1.0095-1.0100 highlights the pair’s weakness.
1.0050 seems strong downside support.

Anil Panchal FXStreet

Even after bouncing off 1.0055, the USD/CHF pair currently trades near 1.0085 while heading into Europe open on Thursday.

The quote has been finding it difficult to cross 1.0095 – 1.0100 horizontal resistance since the week-start, making it an important upside barrier, a break of which can propel prices to 1.0130 and then to 61.8% Fibonacci retracement of latest downturn, at 1.0160.

Given the buyers’ dominance above 1.0160, 1.0210 and 1.0230 could become their favorites.

On the downside, 1.0075 and 1.0050 may limit nearby declines, a break of which highlights 100-day simple moving average (SMA) on the daily chart around 1.0010.

Should there be additional south-run under 1.0010, 200-day SMA near 0.9950 may gain market attention.

USD/CHF hourly chart

Trend: Pullback expected

1. R3 1.0147
2. R2 1.0123
3. R1 1.0104
PP 1.008
1. S1 1.0061
2. S2 1.0037
3. S3 1.0018

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.