- Swiss franc rises for the fifth day in a row against the dollar.
- Markets waiting for the US inflation data.
- USD/CHF accumulates drop of almost 400 pips since September’s maximum.
USD/CHF continues to fall and is trading at 0.9485, the lowest level since Aug 17. In the last five sessions he has lost almost 400 pips. The market’s focus is on the US inflation data.
US inflation data for August to be released at 12:30 GMT is expected to be key in guiding the next USD/CHF move. The pair enters this event, approaching the 200-day moving average of 0.9475. Underneath, the next key zone is around 0.9400.
There is no five without four
The dollar is registering the fifth consecutive daily decline against the Swiss franc. In this tour there was a moment where the movement was guided by the weakness of the dollar and others by the general strength of the Swiss franc. From last week’s high the pair lost 385 pips.
The USD/CHF on Tuesday falls in line with dollar weakness on prior US inflation data.DXY is down 0.45% and is at its lowest since August 26 below 107.80. Treasury bond yields are showing relative stability.
The Swiss franc is trading flat against the euro. EUR/CHF trades around 0.9650/55 after hitting a weekly low at 0.9627 hours ago. The cross built strong support at 0.9630/40.
Technical levels
Source: Fx Street
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