- Swiss franc rises on Monday versus greenback but moves off highs.
- USD/CHF outlook favors the downside while below 1.0050.
The Swiss Franc rose against the US dollar on Monday, on a quiet session amid a Holiday in the US. The move lower took place on the back of a slide of the greenback across the board. The DXY dropped modestly to 96.78 and pulled back further from the monthly high it hit on Friday at 97.37.
The USD/CHF bottomed at 1.0023, the lowest in a week and then trimmed losses on a quiet US session. As of writing, trades at 1.0040, down for the day and at the same level it had a week ago.
Despite moving off lows, the pair is consolidating below the 1.0040 area, a relevant short-term support. The negative tone could persist ahead of the Asian session, but if it rises above 1.0055/60 the greenback should recover strength.
Last week USD/CHF approached 1.0100 and reversed. So a clear break above is needed to open the doors to more gains for the greenback. On the opposite direction, under 1.0020 the next strong support is seen around 0.9940, (Jan 30 high / 20-day moving average).
Markets are expected to return to normality on Tuesday. Regarding data, the critical event ahead is the release of the FOMC minutes. Also, traders follow closely developments related to US-China trade talks and the possible tariffs to European cars going to the US.
More Levels
USD/CHF
Overview:
Today Last Price: 1.0041
Today Daily change: -0.0008 pips
Today Daily change %: -0.08%
Today Daily Open: 1.0049
Trends:
Daily SMA20: 0.9991
Daily SMA50: 0.9927
Daily SMA100: 0.9949
Daily SMA200: 0.9909
Levels:
Previous Daily High: 1.009
Previous Daily Low: 1.0039
Previous Weekly High: 1.01
Previous Weekly Low: 0.9988
Previous Monthly High: 0.9996
Previous Monthly Low: 0.9716
Daily Fibonacci 38.2%: 1.0059
Daily Fibonacci 61.8%: 1.0071
Daily Pivot Point S1: 1.0029
Daily Pivot Point S2: 1.0009
Daily Pivot Point S3: 0.9979
Daily Pivot Point R1: 1.008
Daily Pivot Point R2: 1.011
Daily Pivot Point R3: 1.013
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
USD/JPY holds near 155.50 after Tokyo CPI inflation eases more than expected
USD/JPY is trading tightly just below the 156.00 handle, hugging multi-year highs as the Yen continues to deflate. The pair is trading into 30-plus year highs, and bullish momentum is targeting all-time record bids beyond 160.00, a price level the pair hasn’t reached since 1990.
AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up.
Gold soars as US economic woes and inflation fears grip investors
Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
Bank of Japan expected to keep interest rates on hold after landmark hike
The Bank of Japan is set to leave its short-term rate target unchanged in the range between 0% and 0.1% on Friday, following the conclusion of its two-day monetary policy review meeting for April. The BoJ will announce its decision on Friday at around 3:00 GMT.