The USD/CHF trims some of its earlier losses/gains in a volatile trading session, spurred by a buoyant US Nonfarm Payrolls report for November, which increased the likelihood that the US Federal Reserve (Fed) will keep increasing borrowing costs. Nevertheless, manufacturing activity slowing reignited recession fears in the US economy. Therefore, the USD/CHF fluctuates around 0.9370s at the time of writing.
Friday’s session witnessed the USD/CHF rallying to its daily high of 0.9439 once the NFP headline crossed newswires. However, it was used by Swiss Franc (CHF) buyers to open fresh short positions on the USD/CHF, as shown by the major erasing its earlier gains, hoovering back below the psychological 0.9400.
Oscillators like the Relative Strength Index (RSI) at bearish territory is almost flat, suggesting consolidation ahead, while the 9-day Rate of Change (RoC) portrays sellers are in charge.
Therefore, the path of least resistance is downward biased. At the time of typing, the USD/CHF tests August 11 daily low of 0.9370, which, once cleared, could pave the way towards testing the fresh 7-month low of 0.9326, followed by the 0.9300 figure.
Overview | |
---|---|
Today last price | 0.9378 |
Today Daily Change | 0.0008 |
Today Daily Change % | 0.09 |
Today daily open | 0.937 |
Trends | |
---|---|
Daily SMA20 | 0.9563 |
Daily SMA50 | 0.9791 |
Daily SMA100 | 0.9711 |
Daily SMA200 | 0.9641 |
Levels | |
---|---|
Previous Daily High | 0.9471 |
Previous Daily Low | 0.9366 |
Previous Weekly High | 0.9598 |
Previous Weekly Low | 0.9388 |
Previous Monthly High | 1.0148 |
Previous Monthly Low | 0.9357 |
Daily Fibonacci 38.2% | 0.9406 |
Daily Fibonacci 61.8% | 0.9431 |
Daily Pivot Point S1 | 0.9334 |
Daily Pivot Point S2 | 0.9297 |
Daily Pivot Point S3 | 0.9228 |
Daily Pivot Point R1 | 0.9439 |
Daily Pivot Point R2 | 0.9507 |
Daily Pivot Point R3 | 0.9544 |
Keep up with the financial markets, know what's happening and what is affecting the markets with our latest market updates. Analyze market movers, trends and build your trading strategies accordingly.