fundamental News - USD/CHF
The USD/CHF extends its Tuesday’s losses, trading at 0.9157 at the time
of writing. Risk-sensitive currencies remain bid, while safe-haven peers
drop. In the CHF case, it gains against the greenback, following the
Japanese yen footsteps, which gains some 0.14%
vs. the buck.
On the other hand, a decisive break under the 0.9150 figure would open
the door for 0.9100, followed by the November 2 swing low at 0.9085 and
then the psychological 0.9000.
The USD/CHF was subdued in the overnight session, trading within
the 0.9140-68 band, failing to extend its Tuesday’s fall. On the bottom,
the downward move was capped near the S1 daily pivot at 0.9135, while
upwards, the daily pivot point at 0.9164 was
the ceiling for the USD/CHF pair.
In the meantime, US Treasury yields recover from earlier losses, the 10-year benchmark note up one basis point, at 1.677%.
USD/CHF Price Forecast: Technical outlook
The USD/CHF has a neutral bias, depicted by the daily moving
averages (DMAs) with a horizontal slope residing around the spot price.
However, an upslope trendline drawn from December 2020 cycle lows to the
June 2021 swing lows provided support, as the
downward move pierced the aforementioned, rebounded strongly towards
the 200-DMA around 0.9169.
To the upside, the first resistance would be the 200-DMA. A break
above that level would open the door for a confluence of the 50 and the
100-DMA around 0.9205-15 area, that once broken would open the door
towards the December 15 cycle high 0.9294 and
then 0.9300.
expectation today: neutral