USD/CHF met with some fresh supply on Thursday and stalled the previous day’s positive move. A turnaround in the global risk sentiment underpinned the safe-haven CHF and exerted pressure. The USD remained supported by less dovish FOMC minutes and might help limit the downside. The USD/CHF pair edged lower through the early European session and was last seen trading near daily lows, with bears now eyeing a break below the 0.9100 mark. The pair came under some fresh selling pressure on Thursday and eroded a part of the previous day’s strong positive move of around 135 pips from the vicinity of the key 0.9000 psychological mark, or multi-year lows. A turnaround in the global risk sentiment – as depicted by a steep decline in the equity markets – benefitted the safe-haven Swiss franc and exerted some pressure on the USD/CHF pair. On the other hand, the US dollar remained well supported by Wednesday’s FOMC meeting minutes, which offered few clues on whether the Fed will adopt a more dovish policy framework in the months ahead. Adding to this, a number of Fed members judged that yield caps and targets were not warranted as it would likely provide only modest benefits in the current environment and disappointed the USD bears. A mildly bid tone surrounding the greenback might turn out to be a key factor that might help limit any deeper losses for the USD/CHF pair, at least for the time being. Market participants now look forward to the US economic docket, featuring the release of Philly Fed Manufacturing Index and Initial Weekly Jobless Claims. The data might influence the USD price dynamics and provide some trading impetus. From a technical perspective, the pair’s inability to attract any strong follow-through buying suggests that the near-term bearish trend might still be far from being over. This makes it prudent to wait for some strong follow-through buying before positioning for any further near-term appreciating move. 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 US Initial Jobless Claims Preview: Continued slow descent unlikely to cheer USD up FX Street 2 years USD/CHF met with some fresh supply on Thursday and stalled the previous day’s positive move. A turnaround in the global risk sentiment underpinned the safe-haven CHF and exerted pressure. The USD remained supported by less dovish FOMC minutes and might help limit the downside. The USD/CHF pair edged lower through the early European session and was last seen trading near daily lows, with bears now eyeing a break below the 0.9100 mark. The pair came under some fresh selling pressure on Thursday and eroded a part of the previous day's strong positive move of around 135 pips from the vicinity… 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.
