OctaFX | OctaFX Forex Broker
Entrar
Abrir conta
Back

USD/CHF trades with modest losses just below 1.0200 mark, downside remains cushioned

   •  A sharp fall in the US bond yields kept a lid on the recent USD upsurge.
   •  Bulls opt to take some profits off the table amid overbought conditions.

The USD/CHF pair traded with a negative bias through the mid-European session on Wednesday and was seen extending the overnight modest pullback from the highest level since January 2017.

A sharp intraday slide in the US Treasury bond yields held investors back from placing any fresh US Dollar bullish bets, which eventually turned out to be one of the key factors prompting some profit-taking trade amid highly overbought conditions. 

This coupled with the prevalent cautious mood, as depicted by a subdued action around equity markets, further underpinned the Swiss Franc and collaborated to a mildly weaker tone, albeit absent relevant fundamental triggers helped limit any sharp corrective slide. 

It would now be interesting to see if the pair is able to find any fresh buying at lower levels or the current pullback marks the end of the recent positive momentum, especially after a strong up-move of over 330-pips from sub-0.9900 level touched on March 20.

Today's empty US economic docket seems unlikely to provide any meaningful impetus and hence, the focus now shifts to this week's other important US macro data - durable goods orders data on Thursday and the advance Q1 GDP report on Friday.

Technical levels to watch

 

USD: Rebound is surprising - AmpGFX

Greg Gibbs, analyst at Amplifying Global FX Capital, explains that the USD has tested the top of its range for over a year against the DXY major curre
Leia mais Previous

Brexit: Government-opposition talks are reportedly on the verge of collapse, GBP/USD remains pressured

Robert Peston of ITV is reporting that the talks between the ruling Conservative Party and the opposition Labour Party are close to collapsing. He wri
Leia mais Next
Start livechat