USD/CHF staged a goodish recovery move from multi-year lows on Thursday. The risk-on mood undermined the safe-haven CHF and remained supportive. Rallying US bond yields benefitted the USD and provided an additional boost. The USD/CHF pair built on its steady intraday recovery move and climbed to three-day tops, around the 0.8835 region during the first half of the European session. A combination of factors assisted the pair to gain some strong positive traction on Thursday and move away from multi-year lows, around the 0.8760-55 region touched in the previous session. The prevalent risk-on environment undermined demand for perceived safe-haven assets, including the Swiss franc. This, along with a goodish US dollar bounce provided an additional boost to the USD/CHF pair. The global risk sentiment remained well supported by hopes for a strong global economic recovery in 2021 and seemed unaffected by the unprecedented chaos in Washington – the US capital city. Supporters of the outgoing President Donald Trump stormed the Capitol Hill in an attempt to overturn his election defeat. That said, the order was restored quickly and the incident did little to influence the market. Investors’ appetite for riskier assets increased further after a Democratic victory in the crucial US Senate runoff elections in the state of Georgia raised prospects for more US fiscal stimulus. Expectations of larger government borrowing pushed the benchmark 10-year US Treasury yield further beyond the 1.0% mark, to the highest level since March and extended some support to the greenback. Apart from this, possibilities of some short-term trading stops being triggered on a sustained move beyond the 0.8815 region further contributed to the USD/CHF pair’s intraday positive move. A subsequent move beyond the weekly tops, around the 0.8845 region, might trigger some additional short-covering move and pave the way for a further near-term appreciating move for the major. Market participants now look forward to the US economic docket – highlighting the releases of the usual Initial Weekly Jobless Claims and ISM Services PMI. The data, along with the US bond yields, might influence the USD price dynamics. Apart from this, the broader market risk sentiment might further contribute to produce some short-term trading opportunities around the USD/CHF pair. 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 EUR/USD: Fed action to alleviate any bearish pressure FX Street 1 year USD/CHF staged a goodish recovery move from multi-year lows on Thursday. The risk-on mood undermined the safe-haven CHF and remained supportive. Rallying US bond yields benefitted the USD and provided an additional boost. The USD/CHF pair built on its steady intraday recovery move and climbed to three-day tops, around the 0.8835 region during the first half of the European session. A combination of factors assisted the pair to gain some strong positive traction on Thursday and move away from multi-year lows, around the 0.8760-55 region touched in the previous session. The prevalent risk-on environment undermined demand for perceived safe-haven assets,… 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.