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USD/CHF clinches 1.0000 on USD recovery

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The now better tone in the greenback is lifting USD/CHF to fresh multi-day highs in the 1.0000/10 band.

    USD/CHF stronger post-Payrolls

    The greenback is resuming its upside momentum following the auspicious results from the US Non-farm Payrolls during February (242K), taking the pair to challenge 4-day peaks above the parity level.

    Ahead in the session, speeches by Brainard and Fischer will keep the attention on the USD-side of the equation, while Switzerland’s unemployment rate is due tomorrow.

    USD/CHF key levels

    The pair is now up 0.60% at 0.9994 facing the next up barrier at 1.0031 (61.8% Fibo of 1.0262-0.9658) ahead of 1.0120 (76.4% Fibo of 1.0262-0.9658) and finally 1.0262 (2016 high Jan.29). On the other hand, a break below 0.9908 (20-day sma) would open the door to 0.9801 (23.6% Fibo of 1.0262-0.9658) and then 0.9781 (200-day sma).
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