USD/CHF is under pressure. The pair stays below its resistance at 1.0025 and remains on the downside. Both 20-period and 50-period moving averages are descending and should maintain a bearish bias. Meanwhile, the relative strength index remains below its neutrality area at 50. The U.S. dollar managed to stabilize as Treasury yields rebounded. The ICE U.S. Dollar Index marked a daily low of 99.92 before bouncing to close at 100.28, up 0.1% on the day. U.S. government bonds saw the biggest one-day sell-off in over a month, which lifted the benchmark 10-year Treasury yield to 2.471% from 2.401% Monday, its largest one-day jump since December 9.
As long as 1.0025 is not broken above, a break below 0.9970 seems likely.
Resistance levels: 1.0050, 1.0070, 1.0100
Support levels: 0.9970, 0.9955, 0.9910
The material has been provided by InstaForex Company - www.instaforex.com
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