- Memorial Day in the US is keeping the overall market rather quiet however we are seeing some volatility on the USD/CHF currency pair.
- As the global risk sentiment is slightly improving the demand for the safe-haven Swiss franc is decreasing.
- The moderate uptick in the US Dollar is also helping the currency pair to gain some traction.
USD/CHF daily chart
USD/CHF is trading near its lowest point since mid-April just above the parity level and the 100-day simple moving average (SMA).
USD/CHF 4-hour chart
USD/CHF trading below its main SMAs suggesting bearish momentum in the medium term.
USD/CHF 30-minute chart
The USD started the week on a positive note against the CHF as the market reached the 1.0060 level and broke the 50 and 100 SMAs. Bulls want a continuation above 1.0060 to reach 1.0100 to the upside. Support is seen at 1.0030 and 1.0010 levels.
Additional key levels