Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

USD/CHF dives to multi-day lows, sub-0.9100 levels

  • USD/CHF witnessed a dramatic turnaround from the 0.9160-65 heady supply zone.
  • The emergence of some fresh USD selling was seen exerting pressure on the major.
  • The risk-on mood-led upsurge in the US bond yields failed to impress the USD bulls.

The USD/CHF pair continued losing ground through the mid-European session and dropped to four-day lows in the last hour, with bears now looking to extend the momentum further below the 0.9100 mark.

The pair continued with its struggle to break through the 0.9160-65 supply zone and witnessed a dramatic intraday turnaround from one-week tops on the first day of a new trading week. The pullback was exclusively sponsored by the emergence of some fresh US dollar selling and failed to gain any respite from the prevalent risk-on mood, which tends to undermine the safe-haven Swiss franc.

The USD failed to capitalize on last week's gains of around 0.7%, instead witnessed some heavy selling on the back of the US political uncertainty and was seen as one of the key factors that prompted some aggressive long-unwinding trade around the USD/CHF pair. Even a strong intraday rally in the US Treasury bond yields did little to impress the USD bulls or lend any support to the major.

Meanwhile, reviving hopes for additional US fiscal stimulus package, along with expectations of a vaccine for the highly contagious coronavirus disease by the end of this year boosted investors' confidence. This, in turn, was evident from a rally in the equity markets, albeit failed to ease the intraday bearish pressure surrounding the USD/CHF pair.

There isn't any major market-moving economic data due for release on Monday. Hence, the USD price dynamics might continue to act as an exclusive driver of the USD/CHF pair's momentum. However, the risk-on flow might extend some support and help limit deeper losses, warranting some caution for bearish traders or positioning for any further depreciating move.

Technical levels to watch

 

USD/JPY remains confined in the 105.00-105.80 range

The USD/JPY pair trades lower in range this Monday, as a better market mood plays against the greenback, but also means absent demand for the Japanese
Read more Previous

US Dollar Index Price Analysis: Next stop on the downside is at 93.00

Following another failure at the tough 6-month resistance line in the 93.80/90 band, DXY sparks a correction lower to the 93.20 region so far, or new
Read more Next