#USDCHF @ 0.93700 US Dollar recovers momentum during the American session as market sentiment deteriorates. (Pivot Orderbook analysis)

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

The pair currently trades last at 0.93700.

The previous day high was 0.9274 while the previous day low was 0.9223. The daily 38.2% Fib levels comes at 0.9243, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9255, expected to provide support.

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 toward daily highs as Wall Street extend 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.

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 the 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%.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9382 at the time of writing. Pair opened at 0.9246 and is trading with a change of 1.47 % .

The pair is trading above its 20 Daily moving average @ 0.9309, below its 50 Daily moving average @ 0.9522 , below its 100 Daily moving average @ 0.9652 and below its 200 Daily moving average @ 0.9643

The previous day high was 0.9274 while the previous day low was 0.9223. The daily 38.2% Fib levels comes at 0.9243, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9255, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.9221, 0.9196, 0.917
• Pivot resistance is noted at 0.9273, 0.9299, 0.9324

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