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USD/CHF clings to gains near 0.9770

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback has surrendered the overnight spike vs. the Swiss franc and is now dragging USD/CHF back to the 0.9770 area.

    USD/CHF focus on US docket

    Spot is struggling to keep gains after seven consecutive session with gains so far, all bolstered by a resurgence of the buying interest around the US dollar. In the meantime, the pair is attempting to stabilize in the upper end of the range, albeit a sustainable break of the 0.9800 handle still remains elusive.

    Ahead in the session, the US calendar will bring in February’s Goods Trade Balance, inflation figures gauged by the PCE and Personal Income/Spending.

    USD/CHF key levels

    The pair is now down 0.05% at 0.9773 facing the next support at 0.9647 (2016 low Mar.17) ahead of 0.9473 (monthly low Oct.15 2015) and then 0.9251 (monthly low Aug.24 2015). On the other hand, a break above 0.9818 (200-day sma) would aim for 0.9828 (20-day sma) and finally 1.0098 (post-ECB high Mar.10).
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