USD/CHF retakes 0.9800 mark, 1-1/2 month tops


The USD/CHF pair climbed to 1-1/2 month tops during the early European session on Friday and was now seen extending the momentum further beyond the 0.9800 round-figure mark.

The pair extended its recent strong bullish momentum and continued gaining some follow-through traction for the third consecutive session on Friday – also marking its ninth day of a positive move in the previous ten.

Bulls remain in control

Despite growing concerns over the economic impact of the deadly coronavirus, some stability in the global financial markets weighed on the Swiss franc's safe-haven status and continued driving the pair higher.

This coupled with the fact that the US dollar remained well supported near multi-month tops, around the 99.00 mark, provided an additional boost and remained supportive of the ongoing upward trajectory.

Meanwhile, bulls seemed rather unaffected by sliding US Treasury bond yields, which might cap any further USD gains and eventually keep a lid on any subsequent positive move, at least for the time being.

Moving ahead, market participants now look forward to the US macro data – monthly retail sales figures and the Michigan Consumer Sentiment Index – for some short-term impetus on the last trading day of the week.

Technical levels to watch


Today last price0.9811
Today Daily Change0.0017
Today Daily Change %0.17
Today daily open0.9794


Daily SMA200.9717
Daily SMA500.9744
Daily SMA1000.9836
Daily SMA2000.9866


Previous Daily High0.9796
Previous Daily Low0.976
Previous Weekly High0.9782
Previous Weekly Low0.9629
Previous Monthly High0.9768
Previous Monthly Low0.9613
Daily Fibonacci 38.2%0.9782
Daily Fibonacci 61.8%0.9774
Daily Pivot Point S10.9771
Daily Pivot Point S20.9748
Daily Pivot Point S30.9735
Daily Pivot Point R10.9806
Daily Pivot Point R20.9819
Daily Pivot Point R30.9842