USD/CHF Stays Above 0.9100 Nearing The Highs Since October

USD/CHF recovers its recent losses registered in the previous session, trading near 0.9120 during the early European hours on Tuesday. The strength of the US Dollar (USD) provides support to bolster the USD/CHF pair. This strength is fueled by better-than-expected Retail Sales figures from the United States (US), which have increased expectations that the Federal Reserve (Fed) might maintain higher interest rates for an extended period.

Moreover, the US Dollar Index (DXY) extends its gains to near 106.30, while the yields on US Treasury bonds for both the 2-year and 10-year stand at 4.93% and 4.62%, respectively, at the time of writing. Escalating geopolitical tensions in the Middle East prompted investors to seek refuge in the safe-haven US Dollar (USD).

Federal Reserve (Fed) Bank of San Francisco President Mary Daly stated on Monday that while there has been notable progress on inflation, there is still further ground to cover. She emphasized the importance of being confident that inflation is on a path toward the target before taking action.

On the other side, in March, Swiss Producer and Import Prices (MoM) exhibited steady growth, increasing by 0.1%. However, Producer and Import Prices (YoY) experienced a more pronounced contraction, declining at a rate of 2.1% compared to the previous contraction of 2.0%.

The Swiss Franc (CHF) had already undergone a significant depreciation following the Swiss National Bank's (SNB) unexpected rate cut in March. With inflation showing moderation in March and business confidence remaining pessimistic, market speculation suggests that the SNB might implement another rate cut during its upcoming June meeting.



Today last price 0.912
Today Daily Change 0.0004
Today Daily Change % 0.04
Today daily open 0.9116


Daily SMA20 0.9029
Daily SMA50 0.8893
Daily SMA100 0.8757
Daily SMA200 0.8825


Previous Daily High 0.9152
Previous Daily Low 0.9114
Previous Weekly High 0.9148
Previous Weekly Low 0.9012
Previous Monthly High 0.9072
Previous Monthly Low 0.873
Daily Fibonacci 38.2% 0.9129
Daily Fibonacci 61.8% 0.9138
Daily Pivot Point S1 0.9103
Daily Pivot Point S2 0.9089
Daily Pivot Point S3 0.9065
Daily Pivot Point R1 0.9141
Daily Pivot Point R2 0.9166
Daily Pivot Point R3 0.9179

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