USD/CHF maintains significant daily gains as it approaches 0.9400

Market Analytics and Considerations

Key Notes

• Despite a decline in market mood, the US dollar gains pace during the American session.
• All-around Swiss Franc declines while EUR/CHF climbs toward 0.9900.
• The USD/CHF has performed the best in weeks, rising 1.40%.

On Tuesday, the USD/CHF is gaining strongly as both the US Dollar and the Swiss Franc are strengthening. The duo hit its highest point since December 8 during European hours at 0.9398 before pulling back and securing support at 0.9315. While losses on Wall Street continue, it is heading back near daily highs.

This is the first time after early November, the duo is returned above the 20-day Simple Moving Average (present support at 0.9305). As USD/CHF maintained a position over 0.9200, the recovery occurs. The very next obstacle is located around 0.9430 over 0.9400.

Dollar gathers momentum but Wall Street goes negative

The Dow Jones is off 0.53percentage points after just a good opening, while the Nasdaq is down more than 1%. During a correction, the market’s degradation is enhancing the US Dollar. The DXY reached its top at 104.85 then tumbling to 104.15; as of this reporting, it is up 1.15percent . as a result for the day to 104.65.

Despite a rise in Swiss bonds, the Swiss Franc remains one of the poorest achievers. Far from the multi-year pinnacle it reached prior week to 1.62%, the 10-year bond yield for Switzerland is currently down 8.50% at 1.46%.

Key technical levels