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USD/CHF drifts lower from yearly highs

FXStreet (Moscow) - USD/CHF opened the day at 0.9325, touched 0.9346 session high in early Europe, before retreating to current levels at 0.9330.

Who is the riskier one?

The pair bumped into 0.9380 resistance yesterday, and is not ready to go higher… so far. The Swissy rebound was partly attributed to the mild euro recovery triggered by the EU sanction delay. Now we probably came closer to the transformation period of the Swiss currency that used to be a key “safe heaven” asset, and now is gradually losing its status. The seize-fire agreement between Russia and Ukraine helped the pair to rebound yesterday meaning the Swissy may be perceived as a riskier currency in the pair. If so, the conflict de-escalation may pressure the pair further out with initial target at 0.9321 support.

What are today’s key USD/CHF levels?

Today's central pivot point can be found at 0.9340 with support below at 0.9321, 0.9287 and 0.9268, with resistance above at 0.9374, 0.9393, and 0.9427. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.9342 and the daily 20EMA bullish at 0.9181. Hourly RSI is bearish at 48.

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