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USD/CHF clings to gains near 1.0170

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 27, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback is marginally up vs. its Swiss peer on Wednesday, taking USD/CHF to the area of 1.0170/65 for the time being.

    USD/CHF cautious ahead of FOMC

    The pair is shedding some pips after hitting fresh weekly highs around 1.0180 on Tuesday, bolstered by a better tone in the risk-associated space and increasing outflows from the safe have CHF.

    Ahead in the session, the FOMC meeting will grab all the attention, seconded by US New Home Sales and Mortgage Applications. It is worth mentioning that the Committee will only release its statement, and there will be no press conference by Chairwoman J.Yellen afterwards. Market bets are biased towards an ‘on hold’ stance by the Fed, favouring instead a rate hike at the March meeting.

    USD/CHF significant levels

    The pair is now up 0.01% at 1.0171 with the immediate hurdle at 1.0206 (23.6% Fibo of 1.0335-0.9784) ahead of 1.0260 (high Nov.26) and then 1.0335 (high Nov.26). On the flip side, a breach of 1.0056 (20-day sma) would aim for 0.9995 (61.8% Fibo of 1.0335-0.9784) and finally 0.9908 (100-day sma).
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