Home Markets USD/CHF rises to 1-week highs near 0.9550

USD/CHF rises to 1-week highs near 0.9550

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USD/CHF rises to 1-week highs near 0.9550
  • DXY rises 0.27% and approaches 107.00.
  • Swiss franc also falls against the euro, the yen among the worst.
  • USD/CHF recovers from the 200-day moving average to the 20-day moving average.

The USD/CHF pair is rising for the fourth day in a row on Wednesday and trade in the area of ​​highs in a week at 0.9540. The dollar is among the best performing currencies, despite US retail sales data and ahead of the Federal Reserve minutes.

The rise in sovereign bond yields is playing into USD/CHF’s favor, fueling the rebound that started from levels below 0.9400. The rallies have significant resistance ahead around 0.9550 where a horizontal level and the 20-day moving average converge. In case of exceeding this level, the dollar will gain important support.

If it fails at current levels, USD/CHF would start to set the stage for a consolidation with a correction. Supports can be seen at 0.9500 and 0.9485.

The EUR/CHF is recovering from historical lows and is approaching 0.9700, accumulating an advance of almost 100 pips in the last two days. The trend remains down, but the rebound offers a respite.

dollar up

DXY is nearing the high of the week after Tuesday’s pullback. A rise in Treasury bond yields (although those of European sovereign bonds are also rising sharply) together with a drop in equity markets, support the greenback. The UK inflation data was a factor that encouraged the sale of bonds.

July retail sales in the US showed a reading similar to that of June, with an increase of 0.1% expected. The details of the report were more encouraging. At 18:00 GMT the Federal Reserve will publish the minutes of the latest Federal Reserve meeting, seeking clues about the central bank’s next steps.

Technical levels

USD/CHF

Overview
Today last price 0.9539
Today Daily Change 0.0046
Today Daily Change % 0.48
Today daily open 0.9493
trends
Daily SMA20 0.9555
Daily SMA50 0.9657
Daily SMA100 0.9636
Daily SMA200 0.9436
levels
Previous Daily High 0.9514
Previous Daily Low 0.9454
Previous Weekly High 0.9635
Previous Weekly Low 0.9371
Previous Monthly High 0.9886
Previous Monthly Low 0.9502
Daily Fibonacci 38.2% 0.9491
Daily Fibonacci 61.8% 0.9477
Daily Pivot Point S1 0.946
Daily Pivot Point S2 0.9428
Daily Pivot Point S3 0.9401
Daily Pivot Point R1 0.952
Daily Pivot Point R2 0.9547
Daily Pivot Point R3 0.9579

Source: Fx Street

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