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USD/CHF challenging 1.0200

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The dollar is returning to the positive ground vs. its Swiss peer at the beginning of the week, taking USD/CHF again to visit the 1.0200 neighbourhood.

    USD/CHF attention to US docket

    The pair could not sustain a break above the 1.0200 handle so far, this time it was rejected near 1.0220 after USD bears have stepped in during the Asian session. However, the leg lower seems to have found decent support around the 1.0185/80 region ahead of the US releases.

    In fact, Existing Home Sales, Chicago Fed National Activity Index and Markit’s Manufacturing PMI are all due later, against the backdrop of mpunting speculations of a Fed’s lift-off in December.

    USD/CHF levels to consider

    As of writing the pair is up 0.14% at 1.0200 facing the next resistance at 1.0241 (2015 high Jan.14) followed by 1.0300 (psychological level). On the other hand, a breach of 0.9986 (low Nov.12) would expose 0.9817 (55-day sma) and finally 0.9739 (100-day sma).
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