

Market Analysis
USD/CHF halted its three-day uptrend, trading near 0.9100 during Tuesday's European session. The 10-year Swiss government bond yield slightly rose to about 0.72%, suggesting the Swiss National Bank (SNB) may maintain current interest rates, bolstering the CHF and weighing on the USD/CHF pair.
Traders are eyeing the upcoming Swiss Employment Level report later this week, alongside SNB Chairman Thomas Jordan's speech on communication, monetary policy, and public impact at the Swiss Media Forum in Lucerne on Friday.
On the USD front, a correction lower is attributed to reduced US Treasury yields, pressuring the USD/CHF pair. The US Dollar Index (DXY), which gauges the USD against major currencies, dipped near 104.60, reflecting 2-year and 10-year US Treasury yields at 4.83% and 4.43%, respectively, at present.
The US Federal Reserve (Fed) remains cautious on inflation, with recent remarks from Loretta Mester of the Federal Reserve Bank of Cleveland indicating a shift away from expectations of multiple rate cuts in 2024. Mester underscored inflation risks and advocated for patience in data gathering amidst economic strength.
USDCHF
OVERVIEW | |
---|---|
Today last price | 0.9102 |
Today Daily Change | -0.0004 |
Today Daily Change % | -0.04 |
Today daily open | 0.9106 |
TRENDS | |
---|---|
Daily SMA20 | 0.9097 |
Daily SMA50 | 0.9044 |
Daily SMA100 | 0.8871 |
Daily SMA200 | 0.8876 |
LEVELS | |
---|---|
Previous Daily High | 0.9109 |
Previous Daily Low | 0.9079 |
Previous Weekly High | 0.9103 |
Previous Weekly Low | 0.8988 |
Previous Monthly High | 0.9195 |
Previous Monthly Low | 0.8998 |
Daily Fibonacci 38.2% | 0.9098 |
Daily Fibonacci 61.8% | 0.909 |
Daily Pivot Point S1 | 0.9087 |
Daily Pivot Point S2 | 0.9068 |
Daily Pivot Point S3 | 0.9057 |
Daily Pivot Point R1 | 0.9117 |
Daily Pivot Point R2 | 0.9128 |
Daily Pivot Point R3 | 0.9147 |
Paraphrasing text from "FX Street" all rights reserved by the original author.