#USDCHF @ 0.89885 extends the gains for the fourth consecutive day ahead of US Core PCE.
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- USD/CHF extends the gains for the fourth consecutive day ahead of US Core PCE.
The pair currently trades last at 0.89885.
The previous day high was 0.9005 while the previous day low was 0.8962. The daily 38.2% Fib levels comes at 0.8988, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8978, expected to provide support.
USD/CHF continues the winning streak that began on Tuesday, gaining fresh weekly highs near 0.9000 during the Asian session on Friday. The US Dollar (USD) struggles to move upward, with the potential for support as US Treasury yields rebound following losses from the previous day. The yield on 10-year US bonds trades at 4.87% by the press time.
Downbeat ZEW Survey Expectations could lead the Swiss Franc (CHF) to a bumpy ride as Switzerland’s business conditions and labor market showed a decline of 37.8 from the previous 27.6 decline in October.
Furthermore, the USD/CHF pair might receive a boost from the positive momentum generated by the upbeat US preliminary Gross Domestic Product (GDP) Annualized data released on Thursday.
However, the report also revealed a preliminary core Personal Consumption Expenditure (PCE) index that fell below expectations, leading to heightened demand for US bonds.
US GDP grew to 4.9% in the third quarter from the previous growth of 2.1%, exceeding the 4.2% expectations. While US Core PCE declined to 2.4% in Q3 from the 3.7% recorded previously.
The bulls of USD/CHF pair could face a challenge as the policy rates are expected to remain consistent in the upcoming Federal Open Market Committee (FOMC) meeting next week. Additionally, Friday will see the release of the core Personal Consumption Expenditure (PCE) data later in the North American session, a crucial gauge of inflation in the US.
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.8994 at the time of writing. Pair opened at 0.8988 and is trading with a change of 0.07 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8994 |
| 1 | Today Daily Change | 0.0006 |
| 2 | Today Daily Change % | 0.0700 |
| 3 | Today daily open | 0.8988 |
The pair is trading below its 20 Daily moving average @ 0.904, above its 50 Daily moving average @ 0.8973 , above its 100 Daily moving average @ 0.8897 and below its 200 Daily moving average @ 0.9009
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.9040 |
| 1 | Daily SMA50 | 0.8973 |
| 2 | Daily SMA100 | 0.8897 |
| 3 | Daily SMA200 | 0.9009 |
The previous day high was 0.9005 while the previous day low was 0.8962. The daily 38.2% Fib levels comes at 0.8988, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8978, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.8966, 0.8943, 0.8923
- Pivot resistance is noted at 0.9008, 0.9027, 0.905
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.9005 |
| Previous Daily Low | 0.8962 |
| Previous Weekly High | 0.9042 |
| Previous Weekly Low | 0.8902 |
| Previous Monthly High | 0.9225 |
| Previous Monthly Low | 0.8795 |
| Daily Fibonacci 38.2% | 0.8988 |
| Daily Fibonacci 61.8% | 0.8978 |
| Daily Pivot Point S1 | 0.8966 |
| Daily Pivot Point S2 | 0.8943 |
| Daily Pivot Point S3 | 0.8923 |
| Daily Pivot Point R1 | 0.9008 |
| Daily Pivot Point R2 | 0.9027 |
| Daily Pivot Point R3 | 0.9050 |
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