Category Archive: 1.) FXStreet on SNB&CHF

USD/CHF Price Analysis: 21-day SMA, seven-week-old falling trendline question buyers

USD/CHF registers five-day winning streak, rises to a one-week high. A downside break of 0.9644 can refresh monthly lows. 38.2% Fibonacci retracement could lure buyers during further upside. USD/CHF takes the bids to 0.9700, following the intra-day high of 0.9702, while heading into the European session on Wednesday.

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USD/CHF consolidates in a range, below 0.9700 handle

USD/CHF consolidates Friday’s goodish intraday positive move. The prevalent cautious mood seemed to have capped the upside. The USD/CHF pair was seen oscillating in a narrow trading band below the 0.9700 mark on Monday and consolidated the previous session's goodish positive move.

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CHF appears well placed to extend its advance in the near-term – MUFG

Analysts at MUFG Bank, point out that the Swiss franc has strengthened alongside the price of gold, perhaps reflecting debasement fears. They argue market participants are also questioning Swiss National Bank’s appetite for maintaining negative rates and intervening to dampen CHF strength.

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SNB can leverage its balance sheet if needed, Schlegel says

The Swiss National Bank (SNB) retains the ability to wage currency market interventions if necessary,  Martin Schlegel, one of the SNB’s alternate governing board members, said on Wednesday, according to Bloomberg.

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USD/CHF Price Analysis: Buyers look for entry beyond 0.9650/55

USD/CHF holds onto recovery gains from a 16-month low. 200-hour SMA will please buyers during a sustained breakout. Bears may aim for September 2018 low following the downside break of the recent bottom. USD/CHF confronts a one-week-old falling trend line resistance while trading around 0.9650 during early Friday. The pair recently ticked up to 0.9654 but failed to extend the rise.

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EUR/CHF Price Analysis: Attempting corrective bounce amid oversold conditions

EUR/CHF is looking oversold, as per key daily chart indicator. The hourly chart is reporting a triangle breakout. A corrective bounce to the 5-day average hurdle could be in the offing. EUR/CHF is looking to regain some poise from three-year lows reached on Wednesday.

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EUR/CHF: Franc at 33-month high five years after SNB removed the cap

EUR/CHF is trading at 33-month lows near 1.0759. The US added Switzerland to its current manipulators' list. The SNB removed the cap on the euro on Jan. 15, 2015. Five years after the Swiss National Bank (SNB) shocked the financial markets by abandoning the euro cap, the Swiss Franc is trading at 33-month highs against the single currency. 

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US Treasury adds Swiss Franc back to its currency watch list – Bloomberg

The US Treasury on Monday added Swiss Franc (CHF) back to its currency watch list and urged Switzerland to adjust its macroeconomic policies to more forcefully support domestic economic activity, according to Bloomberg. 

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USD/CHF Technical Analysis: Heavy inside monthly rising trend-channel, 0.9700 in focus

USD/CHF stays below the five-week-old falling trend line, 23.6% Fibonacci retracement. Bearish MACD increases the odds of the pair’s declines. Channel’s resistance, 50% Fibonacci retracement will question buyers during the recovery. USD/CHF registers modest changes while taking rounds to 0.9730 ahead of the European session on Monday.

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USD/CHF Technical Analysis: Sellers hopeful on Doji formation below monthly trendline

USD/CHF portrays buyers’ exhaustion despite the absence of losses since Tuesday. December month low will be the key to watch. USD/CHF trades mostly unchanged around 0.9730 while heading into the European session on Friday. The pair formed a Doji candlestick on the daily (D1) chart by Thursday’s end after recovering for the two consecutive prior days.

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USD/CHF Technical Analysis: Weak below six-week-old falling trendline

USD/CHF recovers amid the recent risk reset. 200-bar SMA adds to the upside barrier, 2019 low holds the key to further declines. USD/CHF bounces off the intra-day low of 0.9665 to 0.9702 while heading into the European session on Wednesday. The pair benefits from the absence of immediate US-Iran war after Tehran hit US bases in Iraq.

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USD/CHF Technical Analysis: Inside descending channel below 200-HMA

USD/CHF clings to 23.6% Fibonacci retracement of the pair’s downpour from Christmas to December 31. The falling channel, 200-HMA will challenge the Bullish MACD. The current month top will lure the buyers during further upside. The USD/CHF pair’s latest recovery seems to struggle around 0.9690 during early Tuesday.

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USD/CHF stalls three-day winning streak amid broad USD pullback

USD/CHF fails to hold onto recovery gains from multi-month lows. Doubts over Iran/Iraq’s capacity to retaliate the US might have shuffled the risk tone. Comments from the NY Fed, GT headlines add to the greenback’s weakness. USD/CHF refrains from extending the recent recovery while trading around 0.9700 during the pre-European session on Monday.

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USD/CHF Technical Analysis: Eyes on short-term rising trendline after US strikes in Baghdad

USD/CHF drops after the news broke that the key members of Iran have been killed in by the US attack near Baghdad airport. 200-hour EMA, resistance line of immediate rising channel guard adjacent upside. December month low adds to the support. USD/CHF declines to 0.9700 during the early Friday’s trading.

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USD/CHF drops to fresh four-month low as greenback extends losses

USD/CHF remains week for the fifth consecutive week. Cautious optimism surrounding the phase-one, a lack of major data and positive performance of commodities seem to weigh on the USD. Second-tier data from the US and Switzerland will be watched closely for fresh impulse.

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USD/CHF: On the back foot below 10-day EMA amid greenback weakness

USD/CHF fails to hold on to previous gains as broad weakness of the USD joins risk reshuffle. US-China trade optimism confronts Brexit risk while Japan’s data-dump joins China’s Industrial Production data. Swiss ZEW Survey, trade/political updates will be in the spotlight.

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USD/CHF Technical Analysis: Further recovery likely amid sustained break of 10-DMA

USD/CHF stays above 10-DMA for the first time in three weeks. 50% Fibonacci retracement can guard immediate upside ahead of 0.9885/90 resistance confluence. A downside break below 61.8% Fibonacci retracement can recall monthly low. Following its break of 10-Day Simple Moving Average (DMA) on Friday, USD/CHF trades around 0.9830 during early Monday.

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USD/CHF Technical Analysis: Falling wedge on 4H, oversold RSI check further declines

USD/CHF trades near the multi-month low. A Bullish technical formation, oversold RSI conditions stop sellers. The further downside can look towards late-August month low. USD/CHF seesaws around 0.9800 during the pre-European session on Thursday. The pair forms a bullish technical pattern on the four-hour (4H) chart. Also supporting the hopeful buyers is oversold conditions of 14-bar Relative Strength Index (RSI).

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USD/CHF finds support near 0.9800 before SNB’s Quarterly Bulletin

Major European stocks post modest losses on Wednesday. US Dollar Index clings to gains above 97.30. Coming up: Swiss National Bank's (SNB) Quarterly Bulletin. The USD/CHF pair dropped to its lowest level since late August at 0.9798 on Wednesday but staged a technical recovery in the last hour. As of writing, the pair was up 0.05% on the day at 0.9808.

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USD/CHF retreats to 0.9820 area as USD loses strength

US Dollar Index erases daily recovery gains ahead of American session. European equity indexes stay in the negative territory. Coming up: Building Permits, Housing Starts and Industrial Production data from US. The USD/CHF lost its traction in the last couple of hours and retraced its daily recovery gains pressured by the sour market mood and the broad USD weakness.

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