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USD/CHF climbs to fresh 1-week highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - USD/CHF resumed the rise and climbed to fresh 1-week highs on Thursday as the US dollar continued to strengthen as investors digest the Federal Reserve decision to raise interest rates for first time in nearly a decade.

    Following a setback toward 0.9810 in the minutes that followed the Fed announcement, USD/CHF turned higher and has risen more than 150 pips over the last sessions to peak at 0.9978 in recent dealings. At time of writing, the pair is trading at 0.9970, recording a 0.71% gain on Thursday.

    There is only second-tier data scheduled for the rest of the day. US will release jobless claims and the Philly Fed manufacturing index.

    USD/CHF levels to watch

    In terms of technical levels, immediate resistances could be found at 1.0030/35 (Dec 4 & 7 highs), 1.0052 (21-day SMA) and 1.1000 (psychological level). On the other hand, supports could be faced at 0.9815 (100-day SMA), 0.9785 (Dec 14 low) and then 0.9755 (Oct 26 low).

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