USD/CHF climbs further to 1.0180, daily peaks

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The dollar is now accelerating its upside momentum vs. the Swiss currency, taking USD/CHF to fresh tops near 1.0180.

    USD/CHF up on USD-buying

    Spot is gaining further altitude as market participants keep unwinding positions in safe haven currencies such as the Swiss franc and the Japanese yen, all against a backdrop of increasing risk appetite bolstered by a strong recovery in crude oil prices.

    Data wise in the US docket, home prices tracked by the S&P/Case-Shiller index have gained 5.8% on a year to November, bettering initial forecasts, while Markit’s Services PMI has come in on the soft side and CB’s Consumer Confidence is up next.

    USD/CHF significant levels

    The pair is now advancing 0.47% at 1.0175 and a breakout of 1.0206 (23.6% Fibo of 1.0335-0.9784) would expose 1.0260 (high Nov.26) and then 1.0335 (high Nov.26). On the other hand, the next support lies at 1.0053 (20-day sma) ahead of 0.9995 (61.8% Fibo of 1.0335-0.9784) and finally 0.9908 (100-day sma).
    For more information, read our latest forex news.

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