USD/CHF comes all the way down to 1.0140

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback has started the week on the defensive side so far, dragging USD/CHF to test session lows in the 1.0140 area.

    USD/CHF softer along with USD

    After climbing to the 1.0170 area during overnight trading, spot suffered the USD-weakness along with a rising buying interest in the commodity space and a better tone from high-yielding currencies.

    There is nothing scheduled in the US calendar today, with the FOMC interest rate decision being the main event in the first half of the week (Wednesday). In the Alpine economy, trade balance figures are next on tap tomorrow.

    USD/CHF significant levels

    The pair is now retreating 0.20% at 1.0141 with the immediate support at 1.0042 (20-day sma) ahead of 0.9995 (61.8% Fibo of 1.0335-0.9784) and finally 0.9904 (100-day sma). On the other hand, a breakout of 1.0206 (23.6% Fibo of 1.0335-0.9784) would expose 1.0260 (high Nov.26) and then 1.0335 (high Nov.26).
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