USD/CHF climbs to daily highs, tests 100-hour SMA

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The dollar has recovered some ground on Wednesday, following losses against the franc the previous day, with the latest string of US data lifting USD/CHF to fresh daily highs.

    USD/CHF managed to regain the 0.99 mark and climbed through the 100-hour SMA (0.9923) to a daily peak of 0.9926 after US durable goods orders and personal spending/income data came on the strong side. At time of writing, the pair is trading at 0.9920, 0.55% above its opening price.

    With markets in holiday-mode and only second-tier data scheduled for the rest of the session, majors are expected to trade directionless within their recent ranges.

    USD/CHF levels to consider

    In terms of technical levels, immediate resistances are seen at 0.9955 (50-day SMA), 0.9990 (Dec 17 high) and then 1.1033 (Dec 4 high). On the flip side, supports could be found at 0.9856 (Dec 22 low), 0.9820 (100-day SMA), 0.9785 (Dec 14 low) and then 0.9755 (Oct 26 low).
    For more information, read our latest forex news.

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