- USD / CHF is trading in a relatively tight range on Thursday.
- The US dollar index consolidates daily losses around 89.70.
- All eyes are on US GDP, durable goods orders and initial jobless claims data.
The pair USD/CHF It touched its highest level since December 2020 at 0.9096 on Wednesday and appears to be struggling to make a decisive move in either direction on Thursday. At time of writing, the pair was virtually unchanged on the day at 0.9061.
The USD remains on the defensive as investors wait for US data.
On Wednesday, the strong rally seen in US Treasury yields helped the dollar gain strength and provided a boost to USD / CHF. Although the yield on US 10-year Treasuries rose nearly 5% on Thursday, the US Dollar Index (DXY) remains deep in negative territory with risk-sensitive currencies attracting investors. At the moment, the DXY is down 0.45% to 89.76 and limits the rise of the USD / CHF.
Later in the session, the Gross Domestic Product (GDP) report from the US Bureau of Economic Analysis and weekly data on initial job applications from the US Department of Labor will be analyzed to obtain a new momentum. Additionally, New York Federal Reserve Chairman John Williams and Federal Reserve Vice Chairman of Supervision Randal Quarles will deliver speeches.
Meanwhile, S&P 500 futures were down 0.4% on the day and a sharp drop in major stock indices after the opening bell could allow the dollar to start showing resistance against its rivals.
Technical levels
USD/CHF
| Panorama | |
|---|---|
| Today’s Last Price | 0.9064 |
| Today’s Daily Change | -0.0005 |
| Today’s Daily Change% | -0.06 |
| Today’s Daily Opening | 0.9069 |
| Trends | |
|---|---|
| SMA of 20 Daily | 0.8961 |
| SMA of 50 Daily | 0.8903 |
| SMA of 100 Daily | 0.8982 |
| 200 SMA Daily | 0.9142 |
| Levels | |
|---|---|
| Daily Preview Maximum | 0.9095 |
| Daily Previous Minimum | 0.9034 |
| Weekly Preview Maximum | 0.8996 |
| Weekly Prior Minimum | 0.8871 |
| Monthly Previous Maximum | 0.8926 |
| Minimum Previous Monthly | 0.8758 |
| Daily Fibonacci 38.2% | 0.9072 |
| Fibonacci Daily 61.8% | 0.9057 |
| Daily Pivot Point S1 | 0.9037 |
| Daily Pivot Point S2 | 0.9005 |
| Daily Pivot Point S3 | 0.8977 |
| Daily Pivot Point R1 | 0.9098 |
| Daily Pivot Point R2 | 0.9127 |
| Daily Pivot Point R3 | 0.9159 |
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