USD/CHF

USD/CHF trades with a mild positive bias on Monday as the US Dollar (USD) steadies following last week’s pullback, which was driven by a sharp decline in US Treasury yields. At the time of writing, the pair trades around 0.8263, up 0.27% on the day.

United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann note that USD/CHF plunged to 0.8215 on Friday before rebounding to 0.8239, which has slowed immediate downside momentum. Intraday, the pair is expected to consolidate between 0.8220 and 0.8270. On a 1–3 week view, however, the bank still sees scope for additional Dollar weakness, with a potential move toward 0.8200 while strong resistance is now marked at 0.8300.

USD/CHF depreciates after opening at a bullish gap, remaining in positive territory and trading around 0.8240 during Asian hours on Monday. The currency pair lost ground as the US Dollar (USD) came under pressure from declining expectations of an October interest rate hike by the Federal Reserve.

• USDCHF declined due to falling US Treasury yields and broad US Dollar weakness. • Safe-haven demand and unwound carry trades strengthened the Swiss Franc. • Technical indicators show neutral MACD and RSI with an oversold Williams %R.

USD/CHF inches higher after registering nearly 1% losses in the previous day, trading around 0.8270 during Asian hours on Friday. The upside of the pair could be restrained as the US Dollar (USD) declines following recent comments from key financial leaders.

The USD/CHF struggles at 0.8350, dives below the 0.8300 figure as a ‘double top’ chart pattern looms in the daily chart, even though the overall trend is up. The pair trades at 0.8269, down almost 1%.