- Analytics
- News and Tools
- Market News
- USD/CHF edges up on risk-off trading, aiming for 0.8575
USD/CHF edges up on risk-off trading, aiming for 0.8575
- The edges up on risk aversion but remains trapped within previous ranges.
- Trading is light with US markets closed on bank holidays.
- USD/CHF is on a corrective recovery, aiming for 0.8575 and 0.8665.
The US Dollar is going through a moderate recovery against the Swiss Franc on Monday. The Dollar Index is trimming some losses, favoured by the sourer market sentiment although it remains trapped within previous ranges.
The USD Index remains capped below the 102.75 resistance area, which is coincident with the USD/CHF’s 0.8575 level. The weaker market sentiment is providing some support to the safe-haven USD yet, trading volume is light with US markets closed on bank holidays.
The economic docket is thin today. In the US, the New York Fed Empire State Manufacturing Index might provide some guidance for traders, although the highlights will be Wednesday’s Retail Sales and Friday’s Michigan Consumer Sentiment Index.
The pair is now in a corrective recovery after having depreciated nearly 10% in the last quarter of 2023. Immediate resistance is the mentioned 0.8575 and above here, the 38.2% Fibonacci retracement of the mentioned decline, at 0.8665.
Supports are 0.8460 and December’s low at 0.8325.
Technical levels to watch
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
