#USDCHF @ 0.99411 US dollar loses as US yields move off highs. (Pivot Orderbook analysis)

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• US dollar loses as US yields move off highs.
• USD/CHF bearish intraday bias, still above 0.9950
• SNB’s Jordan speaking in a few minutes.

The pair currently trades last at 0.99411.

The previous day high was 1.0011 while the previous day low was 0.9932. The daily 38.2% Fib levels comes at 0.9981, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9962, expected to provide resistance.

The USD/CHF pulled back during the European session and bottomed at 0.9945 and then bounced back toward parity. Ahead of the speech SNB Chairman, it is hovering around 0.9965.

Earlier on Tuesday, USD/CHF peaked at 1.0020, the highest level since June 15. Afterwards, it retreated as the US Dollar lost momentum across the board. The combination of an improvement in risk sentiment and a decline in US yields.

The US 10-year yield hit levels above 4.00% earlier and currently, it is back under 3.90%. In Wall Street, the Dow Jones is up by 0.50% after a negative opening and the S&P drops by 0.25%.

In a few minutes, at 16:00 GMT, Swiss National Bank Chairman Thomas Jordan will deliver a lecture on ‘Ethics and Economics’ in Washington at the Peterson Institute. He might avoid speaking about monetary policy.

The intraday trend in USD/CHF remains bearish, although it has found support at 0.9950. A break lower is needed to trigger more losses. On the upside, above the parity area, the next critical resistance is the 1.0050 area.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9971 at the time of writing. Pair opened at 0.9999 and is trading with a change of -0.28 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 0.9784, 50 SMA 0.9687, 100 SMA @ 0.9684 and 200 SMA @ 0.9535.

The previous day high was 1.0011 while the previous day low was 0.9932. The daily 38.2% Fib levels comes at 0.9981, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9962, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9951, 0.9902, 0.9872
• Pivot resistance is noted at 1.0029, 1.0059, 1.0107

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