USD/CHF approaches 0.9900, at 1-week highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    USD/CHF is rising more than a hundred pips on Monday and continues to climb higher, extending the recovery from 0.9660 (Feb 11 low). Recently it peaked at 0.9888, reaching the highest level in a week.

    The US dollar is up for the second day in a row versus the Swiss and rose further during the American session, on the back of a stronger greenback in the market. The Swissy is also losing ground versus the pound and the euro.

    The pair currently trades at 0.9880/85, up 1.22% for the day so far and continues to hold a positive tone in the short-term. It has recovered important levels it lost during the previous two weeks when it plummeted from 1.0200 to 0.9660.

    USD/CHF technical levels

    Potential support levels might lie at 0.9840 (European session high) , 0.9760/65 (daily low) and 0.9690/95 (Feb 09 low). On the opposite direction, resistance might be seen 0.9885/90 (daily high), 0.9900 (psychological), 0.9955/60 (Oct 28 & 29 high / Jan 15 low) and 1.0005 (20-day SMA).
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