USD/CHF slumps to two-week lows near 0.9640

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The USD/CHF pair came under renewed bearish pressure in the last hour and slumped to its lowest level since January 16th at 0.9639. As of writing, the pair was trading at 0.9640, losing 0.55% on a daily basis.

Investors seem to be looking to stay on the safe side going into the weekend amid heightened worries over the coronavirus death toll continuing to rise and weigh on the global economy. The 10-year US Treasury bond yield extended its slide and was last down 3.5% on the day.

USD looks to end week on a weak note

The sharp drop in the US T-bond yields seems to be weighing on the greenback as well. The US Dollar Index, which tracks the USD's performance against a basket of six major currencies, fell sharply during the American session on Friday despite upbeat macroeconomic data releases and was last down 0.46% on the day at 97.42.

The University of Michigan's Consumer Sentiment Index rose to 99.8 in Januar (final) from 99.3 in December and beat the market expectation of 99.1. Moreover, the core Personal Consumption Expenditures (PCE) Price Index ticked up to 1.6% on a yearly basis in December from 1.5%.

Technical levels to watch for

USD/CHF

Overview
Today last price 0.9645
Today Daily Change -0.0052
Today Daily Change % -0.54
Today daily open 0.9697

 

Trends
Daily SMA20 0.9698
Daily SMA50 0.9786
Daily SMA100 0.9855
Daily SMA200 0.9888

 

Levels
Previous Daily High 0.9744
Previous Daily Low 0.9679
Previous Weekly High 0.973
Previous Weekly Low 0.9661
Previous Monthly High 1.0009
Previous Monthly Low 0.9646
Daily Fibonacci 38.2% 0.9704
Daily Fibonacci 61.8% 0.9719
Daily Pivot Point S1 0.9669
Daily Pivot Point S2 0.9642
Daily Pivot Point S3 0.9604
Daily Pivot Point R1 0.9734
Daily Pivot Point R2 0.9772
Daily Pivot Point R3 0.9799