USD/CHF clinches highs above 0.9700

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The greenback is intensifying its upside vs. the Swiss franc on Tuesday, with USD/CHF advancing to session highs above 0.9700 the figure.

    USD/CHF gathers traction on Brussels attacks

    The pair has quickly surpassed the 0.9700 key barrier after news of multiple blasts in three metro stations in Brussels and a suicide attack at the Belgium airport. Spot is posting gains for the second session in a row today, finding support in recent lows in the mid-0.9600s.

    On the data front, US manufacturing PMI is due later in the NA session followed by the API report on crude oil stockpiles and tomorrow’s ZEW Expectations in Switzerland.

    USD/CHF key levels

    The pair is now advancing 0.20% at 0.9718 facing the next hurdle at 0.9807 (200-day sma) would expose 0.9862 (20-day sma) and finally 1.0098 (post-ECB high Mar.10). On the other hand, a breach of 0.9647 (low Mar.17) would open the door to 0.9523 (monthly low Sep.18 2015) and then 0.9473 (monthly low Oct.15 2015).

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