USD/CHF extends slide to fresh daily lows below 0.9070

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The USD/CHF pair failed to break above 0.9200 and closed in the negative territory last week. With the greenback struggling to find demand on Monday, the pair extended its slide and touched a fresh daily low of 0.9065. As of writing, USD/CHF was down 0.2% on the day at 0.9068.

USD weakens on risk flows

The US Dollar Index (DXY) capitalized on risk-off flows and closed higher for the second straight week. However, improving risk sentiment at the start of the week seems to be making it tough for the USD to attract investors. At the moment, the DXY is down 0.28% on a daily basis at 93.01.

There won't be any significant macroeconomic data releases featured in the US economic docket on Monday and investors will keep a close eye on Wall Street.

Reports revealing that AstraZeneca will restart the phase-3 trial of its potential COVID-19 vaccine allowed the market mood to turn upbeat. Additionally, Pfizer and BioNTech proposed to the US FDA to expand their phase-3 coronavirus vaccine trial to about 44,000 participants from 30,000 initially.

The S&P 500 futures are currently up 1.3% on the day and a potential sharp upsurge in Wall Street's main indexes could put additional weight on the USD's shoulders in the second half of the day.

Technical levels to watch for 

USD/CHF

Overview
Today last price0.9067
Today Daily Change-0.0021
Today Daily Change %-0.23
Today daily open0.9088

 

Trends
Daily SMA200.9099
Daily SMA500.9192
Daily SMA1000.9398
Daily SMA2000.955

 

Levels
Previous Daily High0.9108
Previous Daily Low0.908
Previous Weekly High0.92
Previous Weekly Low0.9049
Previous Monthly High0.9242
Previous Monthly Low0.8999
Daily Fibonacci 38.2%0.909
Daily Fibonacci 61.8%0.9097
Daily Pivot Point S10.9076
Daily Pivot Point S20.9063
Daily Pivot Point S30.9047
Daily Pivot Point R10.9104
Daily Pivot Point R20.912
Daily Pivot Point R30.9133