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USD/CHF bounces off lows, back near 1.0080

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - After bottoming out in the 1.0020 area, USD/CHF has sparked a recovery to the current boundaries of 1.0080.

    USD/CHF firmer on USD sentiment

    The greenback has been gathering further traction today since the closing bell in the Asian markets, as another bout of Yuan weakness derailed in an abrupt drop of Chinese equities.

    The greenback – tracked by the US Dollar Index – has reverted the initial drop and has now regained the positive territory, collaborating with the pair’s recovery and opening the door for a potential visit to the 1.0100 mark.

    USD/CHF levels to watch

    At the moment the pair is losing 0.03% at 1.0066 facing the next resistance at 1.0131 (high Jan.5) ahead of 1.0200 (psychological level) and then 1.0335 (2015 high Nov.27). On the flip side, a break below 1.0001 (55-day sma) would aim for 0.9847 (100-day sma) and finally 0.9784 (low Dec.14).
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