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Swiss franc weakened across the board today. USD/CHF used 100 DMA as a springboard for the move that took it to the highest level since January. EUR/CHF is trading at the highest levels since SNB discontinued minimum exchange rate at 1.20 in 2015. GBP/CHF is up 1000 pip from the low. A round of profit-taking would not come as a surprise at these levels.
al_dcdemo's Blog
Improved risk tone at the start of the week
U.S. and China are said to be discussing Chinese market access and trade in a more calmer way. That's significant improvement over last week's retaliatory rhetorics. Better risk tone to start the week has seen JPY and CHF pairs trade higher. EUR/CHF appears ready to challenge last week's high near 1.175 with 1.185 and 1.20 the next targets.
USD/CHF in sell-rally mode still
As opposed to USD/JPY, USD/CHF hasn't been able to recover from yesterday's fall. With EUR/CHF near the new cycle-high, it shouldn't come as a surprise that Swissie decided to mirror EUR/USD rather than follow risk sentiment. 0.98 is about to get retested.
USD/CHF steady ahead of the SNB meeting
SNB meets tomorrow and will almost certainly leave monetary policy unchanged. Even though franc weakened against euro markedly in the past couple of months, they will probably reiterate that it remains significantly overvalued. That would be a green light for EUR/CHF bulls.
USD/CHF, however, has been under pressure, owing to U.S. dollar weakness. Strong demand has been notable below 0.95, part of which could likely be attributed to the SNB itself. 50 DMA is the immediate resistance and 100 DMA t…
USD/CHF, however, has been under pressure, owing to U.S. dollar weakness. Strong demand has been notable below 0.95, part of which could likely be attributed to the SNB itself. 50 DMA is the immediate resistance and 100 DMA t…
Swissie on the way to 0.95
SNB is among those central banks that is not in hurry to hike rates. Moreover, the bank will likely deliberately lag behind to prevent any strengthening of the franc for which they already say is significantly overvalued.
EUR/CHF has been slowly grinding up on expectations that the ECB will move first. The pair traded to the highest this year yesterday. USD/CHF has been doing it's usual EUR/USD mirroring. Support at 0.95 in the former roughly matches the resistance at 1.15 in the latter.
EUR/CHF has been slowly grinding up on expectations that the ECB will move first. The pair traded to the highest this year yesterday. USD/CHF has been doing it's usual EUR/USD mirroring. Support at 0.95 in the former roughly matches the resistance at 1.15 in the latter.
Swissie balances near parity level
Swissie has not been in focus lately, even though its moves were comparable to that of the euro. EUR/CHF has remained well offered ahead of the French election, suggesting some safe haven flows at work. That will likely intensify if Le Pen makes it to the second round.
USD/CHF has been coiling around parity level for months now as (geo)political concerns balance out positive carry. 200 DMA offers the initial support with stronger one between 0.98 and 0.985. 1.00 is the immediate resistance and t…
USD/CHF has been coiling around parity level for months now as (geo)political concerns balance out positive carry. 200 DMA offers the initial support with stronger one between 0.98 and 0.985. 1.00 is the immediate resistance and t…
Swissie pulling back towards the parity level
Since topping out above 1.02, USD/CHF has remained well bid. The pullback is currently just over 150 pips. The pair has also been supported via EUR/CHF, which rallied from below 1.07 and is now trading firmly above 1.08.
There are some strong technical levels near the parity level, including October high and 2015 - 2016 trendline with 50 DMA closing in from below. Another leg higher would target year's high at 1.0255 and cycle-high at 1.0330.
There are some strong technical levels near the parity level, including October high and 2015 - 2016 trendline with 50 DMA closing in from below. Another leg higher would target year's high at 1.0255 and cycle-high at 1.0330.
EUR/CHF breaks above June high
EUR/CHF broke above June high (~1.0575) last week but pulled back below it ahead of the weekend. The pair traded above the level overnight and is so far holding up well. With the Greek risk out of the way for now, demand for safe haven lessened. Potential SNB buying in the dips may also play a role of supporting the bullish sentiment.
If the pair continues higher we may see a retest of 1.08 in the days ahead. The next targets would then be 200 DMA (~1.0940) and 76.4% retracement of the January 1…
If the pair continues higher we may see a retest of 1.08 in the days ahead. The next targets would then be 200 DMA (~1.0940) and 76.4% retracement of the January 1…