USD/CHF holds onto strong daily gains looking at 0.9400 – Crypto News – Crypto News
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USD/CHF flirts with daily low, bears now await sustained weakness break below 0.9600 mark USD/CHF flirts with daily low, bears now await sustained weakness break below 0.9600 mark

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USD/CHF holds onto strong daily gains looking at 0.9400 – Crypto News

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3 years ago

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  • The US Dollar recovers momentum during the American session as market sentiment deteriorates.
  • The Swiss Franc falls across the board, EUR/CHF rises towards 0.9900.
  • USD/CHF has best performance in weeks, gains 1.40%.

The USD/CHF is rising sharply on Tuesday amid a stronger US Dollar across the board and also amid a slide of the Swiss Franc. The pair peaked on European hours at 0.9398, the highest level since December 8 and then pulled back finding support at 0.9315. It is moving back towards daily highs as Wall Street extends losses.

The pair is back above the 20-day Simple Moving Average (now support at 0.9305) for the first time since early November. The recovery takes place after USD/CHF held above 0.9200. Above 0.9400, the next barrier is seen at 0.9430.

Dollar recovers momentum, Wall Street turns red

After a positive opening, the Dow Jones is falling by 0.53% and the Nasdaq drops by more than 1%. The deterioration in market sentiment is boosting the US Dollar after a previous correction. The DXY peaked at 104.85, and pulled back to 104.15; as of writing it is at 104.65 up 1.15% for the day.

At the same time, US yields are also moving to the upside reversing an initial decline. The US 10-year yield stands at 3.78% and the two-year is back above 4.40%.

The Swiss Franc is among the worst performers amid a rally in Swiss bonds, The Switzerland 10-year bond yield is falling by 8.50% at 1.46%, moving away from the multi-year high it hit last week at 1.62%.

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