USD/CHF trading practically flat between 0.9100 and 0.9130

  • The US dollar remains capped below 0.9130.
  • The Swiss franc remains weighed amid investors' appetite for risk.
  • USD/CHF: Ibelow 0.8943, 2014 lows at 0.8703/0.8698 will come into focus – Commerzbank.

The US dollar has remained trapped within a tight range above 0.9100 on Tuesday. Dollar’s upside attempt seen on the European trading session has been capped below 0.9130, and the pair retreated again to 0.9120, little changed on the day.

The upbeat market mood weighs on the CHF

The positive sentiment generated on Monday after the pharmaceutical giant AstraZeneca revealed that its COVID-19 vaccine is 90% effective has extended into Tuesday's trading. Beyond that, US President Trump is showing signals of acknowledging Biden’s victory, which has contributed to maintaining the upbeat market mood.

Investors’ optimism has reflected on higher equity markets and increasing US T-Bond yields that have favoured the USD against the safe-haven Swiss franc. European indexes have closed with advances between 1.4% and 2%, while in Wall Street, the S&P 500 Index adds 1.5%, while the Dow Jones and the Nasdaq Indexes trade 1.43% and 1.25% up respectively.

USD/CHF: Failure at 0.8943 would expose 2014 lows at 0.8703/0.8698 – Commerzbank

From a technical perspective, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, sees the pair neutral to negative while below 0.9162: The pair has recently reversed from 0.8983, however, this has not overcome any resistance of note and attention has reverted back to this low (…) The recent low at 0.8983 guards 0.8943 (TD support) (…) Failure at 0.8943 is needed to introduce scope to the 0.8703/.8698 2014 lows.”

Technical levels to watch


Today last price 0.912
Today Daily Change -0.0008
Today Daily Change % -0.09
Today daily open 0.9128
Daily SMA20 0.9122
Daily SMA50 0.9137
Daily SMA100 0.9161
Daily SMA200 0.9395
Previous Daily High 0.9148
Previous Daily Low 0.9076
Previous Weekly High 0.9152
Previous Weekly Low 0.9088
Previous Monthly High 0.9219
Previous Monthly Low 0.9031
Daily Fibonacci 38.2% 0.9121
Daily Fibonacci 61.8% 0.9104
Daily Pivot Point S1 0.9087
Daily Pivot Point S2 0.9046
Daily Pivot Point S3 0.9015
Daily Pivot Point R1 0.9158
Daily Pivot Point R2 0.9189
Daily Pivot Point R3 0.923




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