The Swiss franc gained more than 2.50% vs. the greenback. A dampened market mood and a strong US dollar capped the USD\/CHF nosedive in the week. USD\/CHF Price Forecast: Although the major held a massive loss in the week, it remains upward biased unless USD\/CHF bears push the pair below the 0.9700 mark.
The USD\/CHF is trimming some of its losses, bouncing off the weekly lows at around 0.9700 and pushing to reclaim 0.9750, amidst a dismal sentiment portrayed by US equities recording losses. Also, broad US dollar strength is a tailwind for the pair, despite hefty losses in the 10-year US Treasury yield, which fell from 3% to 2.785%, near weekly lows. At 0.9762, the USD\/CHF is gaining 0.35% and eyes to pierce the 20-DMA at around 0.9827.
Technically, the USD\/CHF pair tumbled in total 250-pips after reaching parity on May 12. USD\/CHF traders would need to be aware that Friday\u2019s surge spurred a reaction in the Relative Strength Index (RSI), which plunged from overbought levels to the 50-midline, and as of writing, it is aiming up at 51.28.
The USD\/CHF remains upward biased, as the daily moving averages (DMAs) are still below the spot price. The USD\/CHF first resistance would be the figure at 0.9800. A breach of the latter would expose the 20-DMA at 0.9827, followed by March 23, 2020, a daily high at 0.9901, and then the parity.
On the flip side, the USD\/CHF first support would be 0.9700. Break below would expose the 0.9600 mark, closely followed by the 50-DMA at 0.9545.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Swiss franc gained more than 2.50% vs. the greenback. A dampened market mood and a strong US dollar capped the USD\/CHF nosedive in the week. USD\/CHF Price Forecast: Although the major held a massive loss in the week, it remains upward biased unless USD\/CHF bears push the pair below the 0.9700 mark.The USD\/CHF is …<\/p>\n","protected":false},"author":13,"featured_media":32638,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7462,7078],"class_list":["post-65778","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-market-sentiment","tag-usd-chf"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/65778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=65778"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/65778\/revisions"}],"predecessor-version":[{"id":65782,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/65778\/revisions\/65782"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32638"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=65778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=65778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=65778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}