“¢ Weaker US bond yields prompt some USD weakness. “¢ Cautious mood underpins CHF and adds to a mild selling bias. The USD/CHF pair traded with a mild negative bias on Tuesday and has now reversed previous session’s modest uptick. A modest retracement in the US Treasury bond yields kept the US Dollar bulls on the defensive through the early European session on Wednesday. This coupled with a cautious mood around European equity markets extended some support to the Swiss Franc’s safe-haven appeal and exerted some downward pressure on the major. Meanwhile, traders seemed to have largely ignored a sharp fall in the ZEW Swiss economic expectations index, coming in at -4 for June as compared to previous month’s reading of 8, with the USD price dynamics turning out to be an exclusive driver of the pair’s momentum ahead of a key meeting between the US President Donald Trump and European Commission President Jean-Claude Juncker. Looking at the broader picture, the pair remains confined within a narrow trading range, held since the beginning of this week. Hence, it would be prudent to wait for a convincing breakthrough the mentioned band before positioning for the pair’s near-term trajectory amid absent fundamental drivers in terms of any major market moving economic releases. Technical levels to watch The 0.9900 handle might continue to act as an immediate support, which if broken is likely to accelerate the fall towards 0.9855 strong horizontal support. On the flip side, the 0.9945-55 region now seems to have emerged as an immediate hurdle, above which a bout of short-covering could lift the pair back towards its next major supply zone near the parity mark. 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 China’s NDRC: US-Sino trade dispute spell uncertainty for Chinese jobs FX Street 5 years "¢ Weaker US bond yields prompt some USD weakness. "¢ Cautious mood underpins CHF and adds to a mild selling bias. The USD/CHF pair traded with a mild negative bias on Tuesday and has now reversed previous session's modest uptick. A modest retracement in the US Treasury bond yields kept the US Dollar bulls on the defensive through the early European session on Wednesday. This coupled with a cautious mood around European equity markets extended some support to the Swiss Franc's safe-haven appeal and exerted some downward pressure on the major. Meanwhile, traders seemed to… 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.
