“¢ Surging US bond yields helps ease the prevalent USD bearish pressure. “¢ Risk-on mood weighs on CHF’s safe-haven appeal and provides an additional boost. The USD/CHF pair built on its steady climb from the Asian session low and is currently placed at session tops, around the 0.9925-30 region. For the second straight session, the pair managed to attract decent buying interest near the 0.9900 handle and was now supported by a modest US Dollar rebound. A fresh wave of an upsurge in the US Treasury bond yields helped ease the USD bearish pressure on Thursday and was seen as one of the key factors behind the pair’s goodish intraday rebound. Adding to this, a positive outcome from the keenly watched trade-related meeting between the US President Donald Trump and European Commission President Jean-Claude Juncker triggered a global wave of risk-on trade. The same was evident from strong gains across European equity markets, which further weighed on the Swiss Franc’s safe-haven appeal and provided an additional boost. Technical Analysis The pair has been oscillating within a narrow trading band since the beginning of this week, forming a rectangular chart pattern on the 1-hourly chart. Meanwhile, technical indicators on the said chart were seen picking up positive momentum and hence, a retest of the weekly trading range resistance now looks a distinct possibility. However, it would be prudent to wait for a decisive break-through the mentioned range before positioning for the pair’s next leg of directional move. Spot rate: 0.9933 Daily Low: 0.9903 Trend: Sideways Resistance R1: 0.9954 (weekly tops set on Tuesday) R2: 0.9987 (R3 daily pivot-point) R3: 1.0000 (psychological mark) Support S1: 0.9901 (lower end of the weekly trading range) S2: 0.9883 (S2 daily pivot-point) S3: 0.9858 (monthly low set on July 9) 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 drops back below 1.3200, ignores risk-on rally in European equities FX Street 5 years "¢ Surging US bond yields helps ease the prevalent USD bearish pressure. "¢ Risk-on mood weighs on CHF's safe-haven appeal and provides an additional boost. The USD/CHF pair built on its steady climb from the Asian session low and is currently placed at session tops, around the 0.9925-30 region. For the second straight session, the pair managed to attract decent buying interest near the 0.9900 handle and was now supported by a modest US Dollar rebound. A fresh wave of an upsurge in the US Treasury bond yields helped ease the USD bearish pressure on… 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.
