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  • Swiss franc among worst performers among G10 currencies.
  • US data surprises to the upside with the Markit PMI and ISM.

The USD/CHF is rising for the sixth consecutive trading session on Monday. It recently traded above 0.9200 for the first time since early September. The US dollar still remains strong versus European currencies ahead of the US election and amid caution across financial markets.

After hitting the highest in a month at 0.9203, USD/CHF pulled back modestly, and it is trading at 0.9195, up 30 pips for the day. The Swiss franc is also falling against the pound and the euro on Monday.

The US dollar is posting mix results, with moderate gains versus its main European rivals and the yen, but it is retreating against commodity link currencies.

Economic data from the US came in above expectations with the positive surprise of the ISM Manufacturing with the highest reading since September 2018 in October at 59.3. The numbers had no impact on the dollar. Market participants trade with caution ahead of the US elections, the FOMC meeting and the Non-farm Payrolls report.

From a technical perspective, USD/CHF holds a bullish bias in the short-term. The pair has two strong resistances ahead: the 0.9200 area and the 100-day moving average at 0.9215. A consolidation above would point to more gains. On the flip side, now 0.9155 is the immediate support followed by 0.9120 zone, near the 20 and 55-day moving average.

Technical levels