The USD/CHF currency pair is currently trading at 0.85996 and is stabilizing around the 0.8600 level during the early Asian trading session. This is happening in anticipation of important data releases from the United States later on.
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- USD/CHF consolidates around the 0.8600 mark in the early Asian session ahead of the US key data.
The pair currently trades last at 0.85996.
The previous day high was 0.8631 while the previous day low was 0.8578. The daily 38.2% Fib levels comes at 0.8598, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8611, expected to provide resistance.
The USD/CHF pair retreats from Monday’s high at 0.8630 and hovers around the 0.8600 area on Tuesday’s Asian session. The pair reverses from a multi-year low following Monday’s upbeat US Empire manufacturing survey.
On Monday, the Federal Reserve Bank of New York revealed that the US Empire manufacturing survey of general business conditions index from July fell -5.5 to 1.1, above the market consensus of -3.5. The US Dollar posts a modest gain after the strong-than-expected data. That said, any meaningful USD rebound from its lowest level since April 2022 appears limited as the market participations anticipate that the Federal Reserve (Fed) is nearing the end of its policy tightening cycle.
Against this backdrop, the cautious mood in the market ahead of the US Retail Sales could benefit the safe-haven Swiss Franc. The softer US figure might cap the upside for the US Dollar and act as a headwind for USD/CHF.
Moving on, investors will take cues from the July US Retail Sales later in the day. Also, releasing the June Swiss Trade data could be a decisive key driver for the Swiss Franc and help determine the next direction for the USD/CHF pair.
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.8601 at the time of writing. Pair opened at 0.8606 and is trading with a change of -0.06 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8601 |
| 1 | Today Daily Change | -0.0005 |
| 2 | Today Daily Change % | -0.0600 |
| 3 | Today daily open | 0.8606 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.8877, 50 SMA 0.8959, 100 SMA @ 0.9033 and 200 SMA @ 0.9246.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8877 |
| 1 | Daily SMA50 | 0.8959 |
| 2 | Daily SMA100 | 0.9033 |
| 3 | Daily SMA200 | 0.9246 |
The previous day high was 0.8631 while the previous day low was 0.8578. The daily 38.2% Fib levels comes at 0.8598, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8611, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.8579, 0.8553, 0.8527
- Pivot resistance is noted at 0.8632, 0.8657, 0.8684
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8631 |
| Previous Daily Low | 0.8578 |
| Previous Weekly High | 0.8918 |
| Previous Weekly Low | 0.8566 |
| Previous Monthly High | 0.9120 |
| Previous Monthly Low | 0.8902 |
| Daily Fibonacci 38.2% | 0.8598 |
| Daily Fibonacci 61.8% | 0.8611 |
| Daily Pivot Point S1 | 0.8579 |
| Daily Pivot Point S2 | 0.8553 |
| Daily Pivot Point S3 | 0.8527 |
| Daily Pivot Point R1 | 0.8632 |
| Daily Pivot Point R2 | 0.8657 |
| Daily Pivot Point R3 | 0.8684 |
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