USD/CHF tumbles to the 0.9770 area, lowest since September

US yields reverse and weaken the greenback.
Swiss franc among top performers of the day.

Matías Salord FXStreet

The USD/CHF dropped further during the second half of the American session and bottomed at 0.9769, the lowest level since September 26. The pair lost more than two hundred pips in December and is having the worst month since June.

The Swiss franc, the yen and gold rose amid demand for safe-haven assets. The risk aversion tone across the bond market and currencies is not seen in Wall Street where equity prices are up. The Dow Jones gains 0.35% and the Nasdaq 0.55%.

US yield are down significantly after a reversal. The 10-year dropped from 1.95% to 1.90% and weigh on the US dollar. Economic data from the United States did not help the dollar: Philly Fed dropped more than expected in December (0.3 vs 8.0) and Existing Home Sales (5.34M vs 5.44).

Fears about a hard Brexit also contribute to the demand for the Swiss franc. The EUR/CHF fell to 1.0870, adding also strength to CHF. Ahead of the Asian session, the technical outlook for USD/CHF is biased to the downside with the pair looking for a support level.

More technical levels

USD/CHF

Overview
Today last price	0.9774
Today Daily Change	-0.0025
Today Daily Change %	-0.26
Today daily open	0.9799

Trends
Daily SMA20	0.9897
Daily SMA50	0.9908
Daily SMA100	0.9885
Daily SMA200	0.9936

Levels
Previous Daily High	0.9822
Previous Daily Low	0.9795
Previous Weekly High	0.9912
Previous Weekly Low	0.9806
Previous Monthly High	1.0024
Previous Monthly Low	0.985
Daily Fibonacci 38.2%	0.9805
Daily Fibonacci 61.8%	0.9812
Daily Pivot Point S1	0.9789
Daily Pivot Point S2	0.9778
Daily Pivot Point S3	0.9762
Daily Pivot Point R1	0.9816
Daily Pivot Point R2	0.9832
Daily Pivot Point R3	0.9843

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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