USD/CHF tests monthly highs near 1.0050

  • Greenback gains traction in the NA session.
  • Fed's Evans says economy is looking stronger than it did in December.
  • NY Fed's Empire State Manufacturing Index rises more than expected.

After closing the previous week above the critical parity mark, the USD/CHF pair continued to edge higher on Monday and was last seen trading at its highest level since March 15 at 1.0047, adding 0.23% on a daily basis.

Earlier today, the data from Switzerland showed that the Producer Price Index in March rose 0.3% following February's 0.2% increase but was largely ignored by the participants. In the meantime, heightened hopes of the U.S.-China trade conflict soon coming to an end and the announcement of the EU nations agreeing to kick off trade negotiations with the U.S. helped market sentiment remain positive and weighed on safe-havens such as the CHF on Monday.

On the other hand, Chicago Fed President Evans today said that the U.S. economy was looking stronger than it did back in September to provide a small boost to the greenback. On the policy outlook, Evans said that he'd like to see inflation rise before going for another rate hike. 

Moreover, the Federal Reserve Bank of New York in its Empire State Manufacturing Survey showed that the business activity expanded at a more robust pace than expected with the headline Manufacturing Index improving to 10.1 in April from 3.7 in March and supported the buck's recovery. At the moment, the US Dollar Index is up 0.12% on the day at 96.96.

Technical levels to consider


Today last price 1.0045
Today Daily Change 0.0021
Today Daily Change % 0.21
Today daily open 1.0024
Daily SMA20 0.9976
Daily SMA50 1.0009
Daily SMA100 0.9961
Daily SMA200 0.9926
Previous Daily High 1.0037
Previous Daily Low 0.9997
Previous Weekly High 1.0047
Previous Weekly Low 0.9977
Previous Monthly High 1.0125
Previous Monthly Low 0.9894
Daily Fibonacci 38.2% 1.0012
Daily Fibonacci 61.8% 1.0022
Daily Pivot Point S1 1.0002
Daily Pivot Point S2 0.9979
Daily Pivot Point S3 0.9962
Daily Pivot Point R1 1.0042
Daily Pivot Point R2 1.0059
Daily Pivot Point R3 1.0082



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