USD/CHF falls sharply for fourth day in a row, hits three-week low near 0.9500

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  • The Swiss franc among the best in the G10 on Monday.
  • USD/CHF resumes declines after pause in the Asian session.
  • EUR/CHF reverses initial rise.

The Swiss franc remains one of the strongest in the G10 group. USD/CHF is falling significantly for the fourth day in a row and hit as low as 0.9512, the lowest since Aug 18.

In less than a week, the pair accumulates a drop of more than 300 pips. It went from operating at highs in a month and a half, to lows in almost a month. The reversal was trailed by some dollar weakness and a firmer Swiss franc.

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The greenback on Monday is extending the correction on all fronts. The DXY falls 0.77% and trades at 108.10, moving away from the decade highs hit last week.

Even the EUR/CHF is trending down, despite the interest rate hike by the European Central Bank. The cross feigned a recovery on Monday, but after reaching 0.9745 it changed direction and fell towards Friday’s lows, reaching levels below 0.9650.

Technical levels

USD/CHF

Panorama
Last Price Today 0.9533
Today’s Daily Change -0.0070
Today’s Daily Change % -0.73
Today’s Daily Opening 0.9603
Trends
20 Daily SMA 0.9671
50 Daily SMA 0.9651
100 Daily SMA 0.9694
200 Daily SMA 0.9475
levels
Previous Daily High 0.971
Previous Daily Minimum 0.9547
Previous Maximum Weekly 0.987
Previous Weekly Minimum 0.9547
Monthly Prior Maximum 0.9808
Previous Monthly Minimum 0.9371
Daily Fibonacci 38.2% 0.9609
Daily Fibonacci 61.8% 0.9648
Daily Pivot Point S1 0.953
Daily Pivot Point S2 0.9458
Daily Pivot Point S3 0.9368
Daily Pivot Point R1 0.9693
Daily Pivot Point R2 0.9782
Daily Pivot Point R3 0.9855
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Source: Fx Street

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