USD/CHF bounces off lows, back to 1.0230

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - Renewed weakness around the greenback has dragged USD/CHF to test daily lows in the vicinity of 1.0220, albeit the down move was short-lived.

    USD/CHF off 2015 highs

    After hitting fresh 2015 highs near above 1.0250 on Wednesday, the pair sparked a correction lower in response to a profit-taking sentiment weighing on the US dollar.

    With US markets half-closed today, risk themes will continue to dominate the pair’s price action, all against the backdrop of solid probabilities of a Fed’s lift-off in December.

    USD/CHF significant levels

    At the moment the pair is losing 0.06% at 1.0230 facing the next support at 1.0110 (low Nov.20) followed by 0.9987 (low Nov.13) and then 0.9844 (55-day sma). On the other hand, a breakout of 1.0260 (2015 high Nov.25) would expose 1.0300 (psychological level).
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