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USD/CHF bounces off 1.0040

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The Swiss franc is now picking up pace vs. its American peer on Monday, with USD/CHF rebounding of lows around the 1.0040 area.

    USD/CHF capped around 1.0100

    After last week’s rejection from recent tops near the 1.0100 handle, the pair has met some weakness following last Friday’s events in France, which in turn have sparked a fresh bout of demand for CHF.

    Nothing relevant in terms of releases in the Alpine economy, with the ZEW Survey and the Trade Balance figures out on Wednesday and Thursday, respectively. In the US docket, the Empire State manufacturing gauge is due today ahead of the more relevant CPI figures due tomorrow.

    USD/CHF significant levels

    As of writing the pair is losing 0.15% at 1.0056 and a break below 0.9986 (low Nov.12) would open the door to 0.9945 (downtrend from 1.0131 prev. resistance now support) and then 0.9775 (55-day sma). On the other hand, the initial resistance lines up at 1.0101 (high Nov.13) followed by 1.0131 (high Mar.12) and finally 1.0241 (2015 high Jan.14)
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