USD/CHF buoyant around 1.0050

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback keeps the upbeat tone on Monday, now sending USD/CHF to the 1.0050/55 band.

    USD/CHF upside capped around 1.0070

    The pair is extending last Friday’s bounce off the 0.9960 area, managing to retake the psychological parity level and advance towards the 1.0060/70 band in early trade.

    Today’s environment continues to favour the greenback, leaving behind last week’s miserable results from the US docket as it now looks to regain part of its shine.

    While there are no scheduled releases in the US economy today, the risk appetite trends will be the almost exclusive drivers behind the pair’s price action, with market sentiment still gyrating around China and crude oil.

    USD/CHF significant levels

    The pair is now gaining 0.23% at 1.0043 with the next resistance at 1.0083 (downtrend from 1.0335) followed by 1.0206 (23.6% Fibo of 1.0335-0.9784) and then 1.0335 (high Nov.26). On the other hand, a breakdown of 0.9985 (20-day sma) would open the door to 0.9914 (76.4% Fibo of 1.0335-0.9784) and finally 0.9885 (100-day sma).
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