USD/CHF technical analysis: Buck recovering and Swiss franc dumping help market recovering from monthly lows

Investors are dumping the safe-haven Swiss franc as the market mood is improving.
The level to beat for bulls are at 0.9790 and 0.9815 level.

Flavio Tosti Independent Analyst

USD/CHF daily chart

USD/CHF is trading off monthly lows below its main daily simple moving averages (DSMAs). Equity markets are recovering from the selloff seen on Monday as China has re-valued the yuan. Investors are selling the safe-haven Swiss franc and buying the greenback.

USD/CHF 4-hour chart

USD/CHF is bouncing from monthly lows while trading below its main SMAs. Bulls would be looking to extend the recovery beyond 0.9790 and 0.9815 resistances.

USD/CHF 30-minute chart

USD/CHF is trading above the 50 and 100 SMA, suggesting a pullback up in the near term. Immediate supports are near 0.9770 and 0.9755, according to the Technical Confluences Indicator.

Additional key levels

USD/CHF

Overview
Today last price	0.9781
Today Daily Change	0.0047
Today Daily Change %	0.48
Today daily open	0.9734

Trends
Daily SMA20	0.9869
Daily SMA50	0.989
Daily SMA100	0.9981
Daily SMA200	0.9976

Levels
Previous Daily High	0.9839
Previous Daily Low	0.9716
Previous Weekly High	0.9976
Previous Weekly Low	0.9814
Previous Monthly High	0.9952
Previous Monthly Low	0.978
Daily Fibonacci 38.2%	0.9763
Daily Fibonacci 61.8%	0.9792
Daily Pivot Point S1	0.9687
Daily Pivot Point S2	0.964
Daily Pivot Point S3	0.9563
Daily Pivot Point R1	0.981
Daily Pivot Point R2	0.9887
Daily Pivot Point R3	0.9934

Author

Flavio Tosti

Independent Analyst

EUR/USD recovers above 1.1600 as focus shifts to US data

EUR/USD stages a modest rebound and trades in positive territory above 1.1600 in the European session on Wednesday. Improving risk sentiment makes it difficult for the US Dollar to preserve its strength and helps the pair edge higher as focus shifts to key US data releases.

GBP/USD climbs above 1.3350 on improving risk mood

GBP/USD gains traction and advances toward 1.3400 on Wednesday. Although there are no headlines pointing to a de-escalation in the Middle East conflict, the modest recovery seen in US stock index futures limit the USD's gains and help the pair hold its ground.

Gold rebounds toward $5,200 as USD retreats

Gold maintains its offered tone through European session on Wednesday and climbs to the $5,200 region. The downward correction seen in the US Dollar and the ongoing crsis in the Middle East seem to be allowing XAU/USD to preserve its recovery momentum.

ADP Employment Report set to signal stronger February jobs growth, little effect on Fed outlook

The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for February on Wednesday. The so-called ADP Employment Change report is expected to show that the United States private sector added 50K new positions in the month, following the 22K gained in January.

Asian stocks fall as South Korea’s KOSPI slumps over 10%

Asian equities drop on Middle East tensions; the MSCI Asia Pacific Index falls up to 4%. South Korea’s KOSPI fell 10.71% near 5,170, with the Korean Won weakened past 1,500 per dollar.

Solana Price Forecast: SOL consolidation near resistance as ETF inflows offer mild support

Solana price is facing slight rejection as it approaches the upper boundary of the consolidation range at around $88 on Wednesday. Institutional demand is strengthening as spot Exchange Traded Funds recorded two consecutive inflows so far this week.