USD/CHF continues consolidating, loses the 20-day SMA

USD/CHF declined towards 0.9040, consolidating below the 20-day SMA.
Federal Reserve officials will be on the wires later in the session.
FOMC minutes on Wednesday and CPI figures from September from the US the next week highlights.

Patricio Martín FXStreet

The USD/CHF declined near the 0.9040 level and tallied its fifth straight day of losses. For the US Dollar, the economic calendar will remain empty on Tuesday. The only highlights are Christopher Waller and Neel Kashkari from the Federal Reserve (Fed) speaking later in the session. As Lorie Logan stated yesterday, tighter financial conditions may put less pressure on the Fed to continue hiking; both speakers could generate volatility in the bond markets if they provide clues on forward guidance and affect the US Dollar price dynamics. Likewise, no relevant reports or data will be released on the Swiss economic calendar.

In the meantime, the focus is set on Wednesday’s Federal Open Market (FOMC) minutes from the September meeting, where investors will look for further clues on the Fed official's stance. In addition, the US September inflation figures are due on Thursday, which are expected to see the headline and core Consumer Price Index (CPI) decelerating. Furthermore, traders should monitor the conflict in Israel as growing tensions could benefit the US Dollar as a safe haven.

USD/CHF Levels to watch

The daily chart analysis indicates a bearish outlook for the USD/CHF in the short term. The Relative Strength Index (RSI) is below its midline in negative territory, with a negative slope, aligning with the negative signal from the Moving Average Convergence Divergence (MACD), which displays red bars, reinforcing the strong bearish sentiment. Additionally, the pair is below the 20-day Simple Moving Average (SMA), but above the 100 and 200-day SMAs, suggesting that the bulls are in command over the bears on the bigger picture.

Support levels: 0.9050, 0.9030, 0.9000.

Resistance levels: 0.9073 (20-day SMA), 0.9150, 0.9170.

USD/CHF Daily Chart

USD/CHF

Overview
Today last price	0.904
Today Daily Change	-0.0026
Today Daily Change %	-0.29
Today daily open	0.9066

Trends
Daily SMA20	0.9074
Daily SMA50	0.8916
Daily SMA100	0.8907
Daily SMA200	0.9027

Levels
Previous Daily High	0.9124
Previous Daily Low	0.905
Previous Weekly High	0.9244
Previous Weekly Low	0.9073
Previous Monthly High	0.9225
Previous Monthly Low	0.8795
Daily Fibonacci 38.2%	0.9078
Daily Fibonacci 61.8%	0.9095
Daily Pivot Point S1	0.9036
Daily Pivot Point S2	0.9006
Daily Pivot Point S3	0.8962
Daily Pivot Point R1	0.911
Daily Pivot Point R2	0.9154
Daily Pivot Point R3	0.9184

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

EUR/USD looks sidelined around 1.1850

EUR/USD remains on the back foot, extending its bearish tone and sliding towards the 1.1850 area to print fresh daily lows on Monday. The move lower comes as the US Dollar gathers modest traction, with thin liquidity and subdued volatility amplifying price swings amid the US market holiday.

GBP/USD flirts with daily lows near 1.3630

GBP/USD has quickly given back Friday’s solid gains, turning lower at the start of the week and drifting back towards the 1.3630 area. The focus now shifts squarely to Tuesday’s UK labour market report, which is likely to keep the quid firmly in the spotlight and could set the tone for Cable’s next move.

Gold battle around $5,000 continues

Gold is giving back part of Friday’s sharp rebound, deflating below the key $5,000 mark per troy ounce as the new week gets underway. Modest gains in the US Dollar are keeping the metal in check, while thin trading conditions, due to the Presidents Day holiday in the US, are adding to the choppy and hesitant tone across markets.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.