USD/CHF holds a position above 0.9000 post intraday losses, US inflation eyed

USD/CHF loses ground ahead of US inflation data release on Tuesday.
US Dollar faces challenges despite Fed Chair Powell’s hawkish tone at IMF event.
Swiss Franc could receive upward support as SNB is expected to increase by a 25 basis points hike in the December meeting.

Akhtar Faruqui FXStreet

USD/CHF extends losses for the second successive session, trading lower near 0.9010 during the early European hours on Monday. The USD/CHF pair grapples with challenges, seemingly unaffected by the hawkish remarks from Federal Reserve (Fed) Chair Jerome Powell at the International Monetary Fund (IMF) event on Thursday. Powell stated that current interest rates not doing enough to bring inflation down to the target, which has left the USD in a state of uncertainty.

US Dollar (USD) faced pressure following the release of downbeat preliminary US Michigan Consumer Sentiment data on Friday, which showed a decline to 60.4 in November from the previous figures of 63.8. The downward pressure is further intensified by the lackluster performance of US Treasury yields, which stand at 4.63% for the 10-year US bond coupon by the press time. Traders will likely focus on US inflation data for October scheduled to be released on Tuesday, seeking fresh cues on US economic scenario.

Later in the month, market participants are eagerly awaiting the Swiss ZEW Survey – Expectations and Real Retail Sales, which could provide insights into whether the Swiss National Bank (SNB) will consider an interest rate increase in the December meeting. Expectations seem to be leaning towards a 25 basis points hike. All eyes will be on Chairman Thomas Jordan as he addresses the global risks, uncertainty, and volatility during the conference on Tuesday which will held in Zurich.

USD/CHF: additional important levels

Overview
Today last price	0.9016
Today Daily Change	-0.0008
Today Daily Change %	-0.09
Today daily open	0.9024

Trends
Daily SMA20	0.8998
Daily SMA50	0.902
Daily SMA100	0.8902
Daily SMA200	0.9

Levels
Previous Daily High	0.9046
Previous Daily Low	0.9002
Previous Weekly High	0.9046
Previous Weekly Low	0.8954
Previous Monthly High	0.9244
Previous Monthly Low	0.8888
Daily Fibonacci 38.2%	0.9019
Daily Fibonacci 61.8%	0.9029
Daily Pivot Point S1	0.9002
Daily Pivot Point S2	0.898
Daily Pivot Point S3	0.8958
Daily Pivot Point R1	0.9046
Daily Pivot Point R2	0.9068
Daily Pivot Point R3	0.909

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

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