The risk-on mood undermined the safe-haven CHF and extended some support to USD/CHF. Sliding US bond yields continued weighing on the USD and kept a lid on the intraday uptick. Investors now look forward to important US macro releases for some meaningful impetus. The USD/CHF pair struggled to preserve its modest intraday gains and has now retreated to the lower end of its daily trading range, around the 0.9220-25 region. The pair built on the previous day’s goodish rebound from the very important 200-day SMA support near the 0.9185 region and gained some traction through the first half of the trading action on Thursday. The underlying bullish sentiment in the financial markets undermined demand for the safe-haven Swiss franc and was seen as a key factor that provided a modest lift to the USD/CHF pair. That said, sustained US dollar selling bias capped the upside, rather exerted some downward pressure. Following Tuesday’s rather unimpressive US CPI report, investors now seem convinced that the Fed will keep interest rates low for a longer period. This, in turn, contributed to the ongoing decline in the US Treasury bond yields and dragged the key USD Index to four-week lows on Thursday. It will now be interesting to see if the USD/CHF pair is able to regain traction or the emergence of fresh selling at higher levels is seen as a fresh trigger for bearish traders. A subsequent weakness below the 0.9200 mark will suggest that the recent pullback from nine-month tops is still far from being over and pave the way for a slide further below the 200-DMA support. Market participants now look forward to the US economic docket, highlighting the releases of monthly Retail Sales, Philly Fed Manufacturing Index and the usual Initial Weekly Jobless claims. This, along with the US bond yields, will influence the USD. Apart from this, the broader market risk sentiment might further produce some 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 Germany’s Spahn: Still expect 20% of population to be vaccinated by end-April FX Street 2 years The risk-on mood undermined the safe-haven CHF and extended some support to USD/CHF. Sliding US bond yields continued weighing on the USD and kept a lid on the intraday uptick. Investors now look forward to important US macro releases for some meaningful impetus. The USD/CHF pair struggled to preserve its modest intraday gains and has now retreated to the lower end of its daily trading range, around the 0.9220-25 region. The pair built on the previous day's goodish rebound from the very important 200-day SMA support near the 0.9185 region and gained some traction through the first half of the… 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.
