USD/CHF technical analysis: Manages to hold above 0.9800 handle, 200-hour SMA

The USD/CHF pair struggled to sustain above 61.8% Fibo. level of the 0.9879-0.9714 recent slump and seems to have stalled this week's recovery move from the 0.9700 neighbourhood.
The intraday downtick remained cushioned near the 0.9800 handle, which coincides with 100/200-hour SMA confluence region and should act as a key pivotal point for intraday traders.

Haresh Menghani FXStreet

Meanwhile, neutral technical indicators on hourly/daily charts haven’t been supportive of any firm near-term direction and thus, warrant some caution before placing any aggressive bets for the pair’s near-term trajectory.

A decisive breakthrough the 0.9800-0.9795 region – also nearing 50% Fibo. level – might prompt some technical selling and turn the pair vulnerable to accelerate the slide further towards 23.6% Fibo. level support near mid-0.9700s.

On the flip side, sustained move beyond the overnight swing high – around the 0.9835-40 region – will set the stage for a further near-term appreciating move towards reclaiming the 0.9900 handle en-route the 0.9975-80 region – three-week tops set last Friday.

USD/CHF 1-hourly chart

USD/CHF

Overview
Today last price	0.9812
Today Daily Change	-0.0001
Today Daily Change %	-0.01
Today daily open	0.9813

Trends
Daily SMA20	0.9787
Daily SMA50	0.9827
Daily SMA100	0.995
Daily SMA200	0.9955

Levels
Previous Daily High	0.9837
Previous Daily Low	0.9775
Previous Weekly High	0.9879
Previous Weekly Low	0.9735
Previous Monthly High	0.9952
Previous Monthly Low	0.978
Daily Fibonacci 38.2%	0.9814
Daily Fibonacci 61.8%	0.9799
Daily Pivot Point S1	0.978
Daily Pivot Point S2	0.9746
Daily Pivot Point S3	0.9717
Daily Pivot Point R1	0.9842
Daily Pivot Point R2	0.9871
Daily Pivot Point R3	0.9904

Author

Haresh Menghani

FXStreet

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

AUD/USD picks up bids above 0.7100 after RBA-speak

AUD/USD picks up bids above 0.7100 in the Asian session on Tuesday, following hawkish comments from RBA Assistant Governor Sarah Hunter and Governor Michele Bullock. However, escalating tensions in the Middle East and the Fed's hawkish outlook remain supportive of the bullish US Dollar undertone, which could limit the pair. The crucial Trump-Xi summit is later this week and remains in focus.

USD/JPY holds small gains near 157.50 as JPY intervention risks loom

USD/JPY posts modest gains while trading near 157.50 in the Asian session on Tuesday as intervention fears help limit losses for the Japanese Yen. However, the BoJ's dovish rate hike to a 31-year high keeps JPY bulls on the back foot. Meanwhile, the US Dollar retains a bullish undertone amid the Fed's hawkish outlook and escalating Middle East tensions, providing tailwinds for the pair.

Gold battles $4,300 amid hawkish Fed, Iran risks

Gold turns lower for the second consecutive day following a modest intraday uptick, challenging the $4,315 region, or a three-day low in the European session on Tuesday. The US Federal Reserve's hawkish outlook is seen as a key factor driving flows away from the non-yielding yellow metal.

Bitcoin pauses rally as profit-taking reaches yearly high

Bitcoin takes a breather, facing a pullback, trading below $85,500 on Tuesday after surging 6.7% the previous day. Strong institutional demand supports the bullish price action, with spot Bitcoin Exchange Traded Funds recording nearly $1 billion in inflows on Monday and Strategy adding 950 BTC to its treasury.

Energy and risk markets remain in the driver’s seat

US stock markets rallied up 2.26% (Nasdaq) yesterday with AI/tech names leading the advance. The Nasdaq even tested the all-time high reached early June. The likes of the S&P 500 and EuroStoxx50 recovered up to 1.5%. Positive risk vibes and lower energy prices supported consolidation on bond markets following the past month’s heavy losses. European yield curves bull steepened.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.