• US yields reverse and weaken the greenback. 
  • Swiss franc among top performers of the day. 

The USD/CHF dropped further during the second half of the American session and bottomed at 0.9769, the lowest level since September 26. The pair lost more than two hundred pips in December and is having the worst month since June. 

The Swiss franc, the yen and gold rose amid demand for safe-haven assets. The risk aversion tone across the bond market and currencies is not seen in Wall Street where equity prices are up. The Dow Jones gains 0.35% and the Nasdaq 0.55%.

US yield are down significantly after a reversal. The 10-year dropped from 1.95% to 1.90% and weigh on the US dollar. Economic data from the United States did not help the dollar: Philly Fed dropped more than expected in December (0.3 vs 8.0) and Existing Home Sales (5.34M vs 5.44).

Fears about a hard Brexit also contribute to the demand for the Swiss franc. The EUR/CHF fell to 1.0870, adding also strength to CHF. Ahead of the Asian session, the technical outlook for USD/CHF is biased to the downside with the pair looking for a support level. 

USD/CHF

OVERVIEW
Today last price0.9774
Today Daily Change-0.0025
Today Daily Change %-0.26
Today daily open0.9799
TRENDS
Daily SMA200.9897
Daily SMA500.9908
Daily SMA1000.9885
Daily SMA2000.9936
LEVELS
Previous Daily High0.9822
Previous Daily Low0.9795
Previous Weekly High0.9912
Previous Weekly Low0.9806
Previous Monthly High1.0024
Previous Monthly Low0.985
Daily Fibonacci 38.2%0.9805
Daily Fibonacci 61.8%0.9812
Daily Pivot Point S10.9789
Daily Pivot Point S20.9778
Daily Pivot Point S30.9762
Daily Pivot Point R10.9816
Daily Pivot Point R20.9832
Daily Pivot Point R30.9843

This story was originally written by Matias Salord at FXStreet.com

Please see original Article at:

https://www.fxstreet.com/news/usd-chf-tumbles-to-the-09770-area-lowest-since-september-201912191911