USD/CHF clings to gains near 0.9910

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Swiss franc is picking up pace vs. the greenback at the end of the week, sending USD/CHF to the area of 0.9910.

    USD/CHF lower on USD selling

    The pair has come under renewed selling pressure in response to a re-emergence of the offered tone around the US dollar, relegating it to trade in the lower bound of the range in the 0.9910 area albeit keeping its daily gains so far.

    USD will take centre stage later in the NA session, as Non-farm Payrolls are expected at 190K and the jobless rate is seen at 4.9%.

    USD/CHF key levels

    The pair is now up 0.09% at 0.9918 facing the next up barrier at 0.9976 (55-day sa) ahead of 1.0031 (61.8% Fibo of 1.0262-0.9658) and then 1.0120 (76.4% Fibo of 1.0262-0.9658). On the other hand, a break below 0.9890 (20-day sma) would open the door to 0.9801 (23.6% Fibo of 1.0262-0.9658) and then 0.9775 (200-day sma).
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