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USDCHF overview 13.05.2021

USDCHF falls on Swiss franc demand.

USDCHF under the bearish pressure today – along with the other Swiss franc-linked currency pairs – as the traders are buying Swiss francs on strengthened safe-haven interests after Palestinian militants fired more rockets into Tel Aviv as Israel continued bombing campaign in Gaza and amassed tanks and troops on Palestinian border. The four days of cross-border violence showed no sign of stopping and Israeli Prime Minister Benjamin Netanyahu said the campaign “will take more time”. The violence has also spread to mixed communities of Jews and Arabs in Israel. Concerned that the region’s hostilities could spiral out of control, the United States is sending an envoy, Hady Amr – highlighting the seriousness of the situation. Until the conflict is resolved Swiss franc is set to appreciate further against the other major currencies.

Except sellers on upward corrections.

Next support to watch – 0.9030

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