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USD/CHF bounces off lows near 0.9860

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 11, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback is now losing trimming losses vs. its rivals, with USD/CHF rebounding from the 0.9865/60 band.

    USD/CHF lower on USD selling

    The pair is giving away part of yesterday’s gains and remains firmly on its way to close the second consecutive week with losses, as the US dollar seems to have resumed its downside today.

    Just a few releases worth mentioning in the data space this week: the SNB has left its monetary stance unchanged at its meeting yesterday, broadly in line with market expectations, and the US Retail Sales are due later today. Consensus sees headline sales to have expanded 0.3% from October to November.

    USD/CHF relevant levels

    As of writing the pair is up 0.04% at 0.9884 facing the next resistance at 1.0000 (psychological level) followed by 1.0038 (high Dec.7) and finally 1.0335 (2015 high Nov.27). On the other hand, a breach of 0.9807 (100-day sma) would aim for 0.9655 (200-day sma) and then 0.9473 (low Oct.15).
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