#USDCHF @ 0.90239 continues to move on an upward trajectory despite the tepid US Dollar.

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• USD/CHF continues to move on an upward trajectory despite the tepid US Dollar.

The pair currently trades last at 0.90239.

The previous day high was 0.9035 while the previous day low was 0.898. The daily 38.2% Fib levels comes at 0.9014, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9001, expected to provide support.

USD/CHF attempts to continue the winning streak that began on Tuesday, treading waters near 0.9030 during the Asian session on Monday. The USD/CHF pair receives upward support despite the lukewarm performance of the US Dollar (USD).

The Greenback faces a barrier as the market expects that interest rates will likely remain consistent at 5.5% by the US Federal Reserve (Fed) in the upcoming meeting on Wednesday.

Additionally, the US Core Personal Consumption Expenditures Price Index (YoY) eased at 3.7% in September compared to the 3.8% readings from August, which might limit advances of the USD/CHF pair. However, the monthly data showed an increase, printed 0.3% readings as anticipated compared to the previous figure of 0.1% but failed to boost the USD.

The escalation of the Middle-East conflict could provide support for the safe-haven Swiss Franc (CHF) against the USD. Israel has expanded the ground operations in Gaza and attacked multiple Hamas sites.

The US Dollar Index (DXY) appears to be maintaining a subdued presence, with the decline in US Treasury yields on Friday. However, the 10-year US Bond yield shows indications of a rebound, standing at 4.87% by the press time.

On Wednesday, the downbeat ZEW Survey Expectations report showed that Switzerland’s business conditions and labor market declined to 37.8 in October, from the previous decline of 27.6.

Investors will focus on the US ADP Employment Change, ISM Manufacturing PMI for October during the week. On the Swiss docket, Real Retail Sales (YoY) will be eyed on Tuesday.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9026 at the time of writing. Pair opened at 0.9028 and is trading with a change of -0.02 % .

The pair is trading below its 20 Daily moving average @ 0.9034, above its 50 Daily moving average @ 0.8977 , above its 100 Daily moving average @ 0.8897 and above its 200 Daily moving average @ 0.9008

The previous day high was 0.9035 while the previous day low was 0.898. The daily 38.2% Fib levels comes at 0.9014, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9001, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.8994, 0.896, 0.894
• Pivot resistance is noted at 0.9049, 0.9069, 0.9103

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