Category Archive: 1.) FXStreet on SNB&CHF

SNB’s Jordan: Without negative rates, CHF would be more attractive and rise in value

In his prepared remarks delivered to pension managers on Thursday, Swiss National Bank Chairman Thomas Jordan said negative interest rates and readiness to intervene in the forex market was still essential to ease the pressure on the Swiss Franc.

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USD/CHF technical analysis: Greenback nearing the October lows, consolidating near 0.9870 level

USD/CHF is consolidating its losses this Thursday. The level to beat for bears is the 0.9855 support. On the daily chart, USD/CHF is trading in a range below its main daily simple moving averages (DSMAs). The market is approaching the October low, currently at the 0.9837 price level.

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USD/CHF technical analysis: Clings to 23.6 percent Fibo, eyes on Swiss ZEW, Fed

USD/CHF stays above 21-day EMA amid bullish MACD. A daily closing beyond the monthly trendline will trigger fresh upside. Given the monthly falling resistance line and 21-day EMA confusing USD/CHF traders on a key day, the quote seesaws near 0.9940 during pre-European session on Wednesday.

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USD/CHF technical analysis: Downside capped by immediate rising channel

USD/CHF pulls back from multi-day old falling trend line resistance. 50% of Fibonacci retracement adds strength to the channel’s support. Although a downward sloping trend line since October 03 recently triggered the USD/CHF pair’s pullback, prices still stay inside a short-term rising channel while taking rounds to 0.9950 during Asian session on Tuesday.

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EUR/CHF technical analysis: Bounces up from key support, eyes Oct. 17 high

EUR/CHF is looking north, having bounced up from key MA support. The 4-hour chart indicators are also reporting bullish conditions. EUR/CHF is better bid at 1.1030 press time and could challenge the Oct. 17 high of 1.1059 in the next 24 hours. 

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USD/CHF technical analysis: Jumps back closer to over 1-week tops

The intraday pullback finds decent support ahead of 0.9900 handle. Move beyond 0.9935 will set the stage for additional near-term gains. The USD/CHF pair did witness some intraday pullback but showed some resilience below 38.2% Fibonacci level of the 1.0028-0.9837 recent downfall. The pair managed to find decent support near 200-hour SMA and has now moved back closer to over one-week tops set earlier this Friday.

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USD/CHF rises to one-week highs at 0.9930

US Dollar strengthens during the American session after US data. Swiss Franc fails to benefit from the demand for safe-haven assets. The USD/CHF pair rebounded at 0.9890 and climbed to 0.9930, the highest level since October 17. As of writing, trades at 0.9920, up almost 20 pips for the day, on its way to the fourth daily gain in-a-row. 

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USD/CHF technical analysis: Bearish MACD questions upside beyond 21/200-day EMA

USD/CHF trades near the weekly top following a sustained break of the key resistance confluence. 50% Fibonacci retracement, multiple resistance lines on the buyers’ radar. On early Friday, the USD/CHF pair trades successfully above 21 and 200-day Exponential Moving Average (EMA) confluence while taking the bids to 0.9925.

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USD/CHF technical analysis: 0.9912/15, 4H 200MA limit immediate upside

USD/CHF struggles to hold the latest recovery gains. A seven-week-old rising trend line, 50% Fibonacci retracement acts as the closest upside barrier. 61.8% of Fibonacci retracement offers adjacent support. The USD/CHF pair’s recovery from 0.9840 seems to lack momentum as the quote witnesses a pullback to 0.9900 ahead of the European session opening on Wednesday.

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USD/CHF technical analysis: 0.9900 is the level to beat for buyers

USD/CHF seesaws around late-Friday tops. 100-HMA, Friday’s high will restrict the latest pullback. September month low can please sellers during the declines. Failure to extend the latest recovery seems to portray the USD/CHF pair’s weakness as it trades around 0.9870 amid pre-European session on Tuesday.

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USD/CHF technical analysis: 0.9900/10 challenges recovery from 61.8 percent Fibo.

USD/CHF bounces off from a multi-week low. 38.2% Fibonacci retracement, late-September bottoms can question the recent upside. The USD/CHF pair’s latest recovery is less likely to prevail for long unless clearing near-term key resistance area. The quote seesaws around 0.9860 by the press time of the pre-European session on Monday.

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USD/CHF technical analysis: Greenback hits fresh October lows against the Swiss Franc

USD/CHF remains under heavy pressure after the London close. The level to beat for bears is the 0.9871 level. On the daily chart, USD/CHF is trading in a sideways trend, now challenging the 50 and 100-day simple moving averages (DSMAs) below the 0.9900 handle.  the near term. Resistances can be seen at the 0.9881

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USD/CHF technical analysis: 50-day SMA limits immediate upside amid bearish MACD

USD/CHF struggles around 38.2% Fibonacci retracement after declining to a three-week low. Bearish MACD favors further downpour to 0.9800/9795 support-zone. With its sustained trading below 50-day SMA, coupled with the bearish MACD, USD/CHF stays on the sellers’ radar even if it clings to 0.9880 during early Friday.

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USD/CHF technical analysis: Breaks below 0.9940 confluence support, turns vulnerable

The pair remains under some selling pressure for the second straight session. The ongoing slide dragged it below a two-month-old ascending trend-channel. Bears might now aim towards challenging the 0.9900 round-figure mark. The USD/CHF pair extended this week's rejection slide from the vicinity of the key parity mark and remained under some selling pressure for the second consecutive session.

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USD/CHF technical analysis: Intraday uptick falters just ahead of parity mark

Despite the intraday pullback, the pair has managed to hold above 200-DMA. The near-term technical set-up support prospects for some dip-buying interest. The USD/CHF pair failed to capitalize on its intraday positive move and faced rejection near the key parity mark, albeit has still managed to hold above the very important 200-day SMA.

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USD/CHF technical analysis: Buyers’ exhaustion around 0.9985/90

USD/CHF repeatedly fails to cross 0.9985/90 area. A two-month-old rising trend-line, 100-day EMA grabs sellers’ attention. Repeated failures to rise past-0.9985/90 resistance-area drags USD/CHF to 0.9965 by the press time of early Tuesday. The pair now witnesses pullback towards the two-month-old rising trend-line, at 0.9930, a break of which could further drag the quote to a 100-day Exponential Moving Average (EMA) level of 0.9910.

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USD/CHF technical analysis: Pivots around 200-day SMA, near mid-0.9900s

Continued with its struggle to extend the momentum beyond 200-DMA. Bears eye a decisive break below the ascending trend-channel support. Bulls are likely to await a sustained strength above the key parity mark. The USD/CHF pair failed to capitalize on last week's attempted rebound from a support marked by the lower end of a two-month-old ascending trend-channel and met with some fresh supply on Monday.

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USD/CHF technical analysis: Positive above 200-bar SMA, 0.9890/87 confluence

USD/CHF pulls back from 0.9990, 23.6% Fibonacci retracement on the sellers’ radar. 200-bar SMA, followed by rising multi-week-old rising trendline and 38.2% Fibonacci retracement, limit further declines. Despite witnessing a downside pressure off-late, the USD/CHF pair remains well above the key supports while taking rounds to 0.9960 amid pre-European open session on Monday.

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USD/CHF: Bulls have eyes on a break into the 1.000s in pursuit of channel resistance

USD/CHF has met a confluence of support as the US Dollar extends higher. Latest positioning data shows that CHF net shorts had been climbing for a third week. FOMC minutes at the top of the hour is next major risk. USD/CHF has met a confluence of support as the US Dollar extends higher on Wednesday ahead of the Federal Open Market Committee's Minutes today and US consumer Price Index tomorrow. 

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SNB to cut rates in early 2020 as global economy sours – UBS

In the latest note to the clients, the UBS Economist Alessandro Bee indicated that he sees the Swiss National Bank (SNB) cutting interest rates next year. “Both the European Central Bank and the Federal Reserve to “react to recession risks” with more rate cuts.

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