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USD/CHF challenges highs near 1.0030

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The buying interest around the dollar remains on the rise today, now pushing USD/CHF to test daily highs near 1.0030.

    USD/CHF attention to US data

    Spot keeps recovering ground after bottoming out in the mid-0.9800s following the ECB decision last Thursday. Solid prints from November’s Payrolls in the US economy have opened further the door for a Fed’s lift-off next week, lifting the pair back above the parity level.

    Next of relevance in the pair will be the Fed’s Labor Market Conditions Index followed by J.Bullard’s speech.

    USD/CHF levels to watch

    At the moment the pair is up 0.58% at 1.0028 facing the next hurdle at 1.0131 (high Mar.12) followed by 1.0241 (high Jan.14) and finally 1.0335 (2015 high Nov.27). On the flip side, a break below 0.9870 (low post-ECB Dec.3) would open the door to 0.9800 (100-day sma) and then 0.9654 (200-day sma).
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