USD/CHF drifts lower for the fifth consecutive session on Monday amid sustained USD selling. The USD bulls seemed rather unimpressed by a goodish intraday pickup in the US bond yields. Concerns about a continuous rise in COVID-19 cases further benefitted the safe-haven CHF. The USD/CHF pair edged lower through the early European session and dropped to near four-week lows, closer to the 0.9400 round-figure mark in the last hour. The pair extended last week’s rejection slide from the 0.9535-30 horizontal resistance and remained depressed for the fifth consecutive session on Monday. The downfall was exclusively sponsored by sustained selling around the US dollar and seemed rather unaffected by the upbeat market mood, which tends to undermine demand for the perceived safe-haven Swiss franc. The incoming positive economic data provided further evidence that the worse of the coronavirus pandemic was probably over and revived hopes of a sharp V-shaped global economic recovery. This led to a further improvement in the global risk sentiment, albeit worries about a continuous rise in new coronavirus cases held investors from taking excessive risk. Investors also remain concerned that the second wave of COVID-19 infections in the United States could trigger renewed lockdown measures and once again put the brakes on economic activity. This, in turn, kept exerting some downward pressure on the greenback, which failed to gain any respite from a goodish intraday pickup in the US Treasury bond yields. The pair has now dropped to the lowest level since June 11 and a subsequent slide below the 0.9400 mark will set the stage for additional weakness. The USD/CHF pair might then accelerate the fall towards June monthly swing lows, around the 0.9375 region, and turn vulnerable to prolong its recent bearish trajectory witnessed over the past two months or so. Market participants now look forward to the US economic docket, highlighting the release of ISM Non-Manufacturing PMI later during the early North American session. The data might influence the USD price dynamics, which coupled with developments surrounding the coronavirus saga will contribute to produce some meaningful trading opportunities. Technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD: Are the bulls back? Specter of negative rates, other factors may keep cable capped Yohay Elam 3 years USD/CHF drifts lower for the fifth consecutive session on Monday amid sustained USD selling. The USD bulls seemed rather unimpressed by a goodish intraday pickup in the US bond yields. Concerns about a continuous rise in COVID-19 cases further benefitted the safe-haven CHF. The USD/CHF pair edged lower through the early European session and dropped to near four-week lows, closer to the 0.9400 round-figure mark in the last hour. The pair extended last week's rejection slide from the 0.9535-30 horizontal resistance and remained depressed for the fifth consecutive session on Monday. The downfall was exclusively sponsored by sustained selling around… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.