USD/CHF consolidates in a range, below 0.9700 handle

USD/CHF consolidates Friday’s goodish intraday positive move.
The prevalent cautious mood seemed to have capped the upside.

Haresh Menghani FXStreet

The USD/CHF pair was seen oscillating in a narrow trading band below the 0.9700 mark on Monday and consolidated the previous session's goodish positive move.

A combination of supporting factors helped the pair to gain some follow-through positive traction for the second consecutive session on Friday and build on the previous session's modest recovery from multi-month lows.

Bulls seemed reluctant amid cautious mood

The latest optimism over the long-awaited US-China phase one trade deal remained supportive of the recent risk-on rally across the global financial markets and continued weighing on the Swiss franc's perceived safe-haven status.

On the other hand, the US dollar was underpinned by expectations that the US economy will continue to expand and reduced odds of any further interest rate cuts by the Fed, which provided an additional boost to the pair.

The greenback managed to preserve its recent gains to monthly tops, albeit a slightly cautious mood – amid tensions in the Middle East and Libya – kept a lid on any further positive move amid relatively lighter turnover on the back of a holiday in the US.

The US markets will remain closed on Monday in observance of Martin Luther King Day. Hence, the broader market risk sentiment might continue to play a key role in influencing the price action and produce some meaningful trading opportunities.

Technical levels to watch

USD/CHF

Overview
Today last price	0.9679
Today Daily Change	0.0001
Today Daily Change %	0.01
Today daily open	0.9678

Trends
Daily SMA20	0.972
Daily SMA50	0.9823
Daily SMA100	0.9872
Daily SMA200	0.9908

Levels
Previous Daily High	0.9697
Previous Daily Low	0.9644
Previous Weekly High	0.9738
Previous Weekly Low	0.9613
Previous Monthly High	1.0009
Previous Monthly Low	0.9646
Daily Fibonacci 38.2%	0.9677
Daily Fibonacci 61.8%	0.9664
Daily Pivot Point S1	0.9649
Daily Pivot Point S2	0.962
Daily Pivot Point S3	0.9596
Daily Pivot Point R1	0.9702
Daily Pivot Point R2	0.9726
Daily Pivot Point R3	0.9755

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD weakens to near 1.1900 as traders eye US data

EUR/USD eases to near 1.1900 in Tuesday's European trading hours, snapping the two-day winning streak. Markets turn cautious, lifting the haven demand for the US Dollar ahead of the release of key US economic data, including Retail Sales and ADP Employment Change 4-week average.

GBP/USD stays in the red below 1.3700 on renewed USD demand

GBP/USD trades on a weaker note below 1.3700 in the European session on Tuesday. The pair faces challenges due to renewed US Dollar demand, UK political risks and rising expectations of a March Bank of England rate cut. The immediate focus is now on the US Retail Sales data.

Gold sticks to modest losses above $5,000 ahead of US data

Gold sticks to modest intraday losses through the first half of the European session, though it holds comfortably above the $5,000 psychological mark and the daily swing low. The outcome of Japan's snap election on Sunday removes political uncertainty, which along with signs of easing tensions in the Middle East, remains supportive of the upbeat market mood. This turns out to be a key factor exerting downward pressure on the safe-haven precious metal.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.

Follow the money, what USD/JPY in Tokyo is really telling you

Over the past two Tokyo sessions, this has not been a rate story. Not even close. Interest rate differentials have been spectators, not drivers. What has moved USD/JPY in local hours has been flow and flow alone.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash (BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.