USD/CHF stays in narrow band near mid-0.98s
- US Dollar Index extends decline toward 96 on Monday.
- Trading action is likely to remain subdued ahead of the New Year holiday.
After slumping to its lowest level since late September at 0.9790 last Friday, the pair staged a modest recovery and finished the week at 0.9840. With thin trading conditions not allowing for decisive movements in the last day of the year, the pair is moving sideways in a very tight range and was last seen virtually unchanged on the day at 0.9842.
The only data release from the United States later in the day will be the December Dallas Fed Manufacturing Index, which is unlikely to receive a meaningful reaction from the market participants. Ahead of this data, the US Dollar Index is down 0.2% on the day at 96.20.
Although Wall Street will be open for a full day of trading today, the risk perception should stay mixed amid year-end flows and not provide a directional clue to the pair. When markets return to full capacity on Wednesday, the IHS Markit's December (final) Manufacturing PMI reports will be looked upon for fresh impetus.
Technical levels to consider
Today Last Price: 0.9839
Today Daily change: 0.0 pips
Today Daily change %: 0.00%
Today Daily Open: 0.9839
Previous Daily SMA20: 0.9924
Previous Daily SMA50: 0.9973
Previous Daily SMA100: 0.9887
Previous Daily SMA200: 0.9874
Previous Daily High: 0.9896
Previous Daily Low: 0.979
Previous Weekly High: 0.9964
Previous Weekly Low: 0.979
Previous Monthly High: 1.0129
Previous Monthly Low: 0.9908
Previous Daily Fibonacci 38.2%: 0.983
Previous Daily Fibonacci 61.8%: 0.9856
Previous Daily Pivot Point S1: 0.9787
Previous Daily Pivot Point S2: 0.9736
Previous Daily Pivot Point S3: 0.9681
Previous Daily Pivot Point R1: 0.9893
Previous Daily Pivot Point R2: 0.9948
Previous Daily Pivot Point R3: 0.9999