USDCHF

The USDCHF is trading back to the low from earlier today at 0.87277.

That level corresponds to the low from March 8 at 0.8728 (see red circle 3) and a swing high going back to January 23 at the same level. (see red circle 1).

So far support is holding. The topside resistance now is at the 50% at 0.8777.

On the downside, break below 0.87277 and traders will look toward the 61.8% of the move up from the December low comes in at 0.86725..

US stocks continue to move lower and that is leading to flight to safety into the CHF.

  • Dow is down -1.30%
  • S&P is down -1.21%
  • Nasdaq is down -1.88%
  • Russell 2000 is down -3.13%.

US yields are also sharply lower with the:

  • 2 year yield 4.193%, -14.5 basis points
  • 5-year yield 3.861%, -13.7 basis points
  • 10 year deal 3.95%, -11.9 basis points
  • 30-year yield 4.272%, -9.6 basis points