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USD/CHF comes down to test 0.9900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The greenback is now accelerating its daily decline, sending USD/CHF to challenge the critical support at 0.9900 the figure.

    USD/CHF lower on USD, risk-off

    The risk aversion has now returned to the global markets, prompting traders to accelerate their inflows to safe haven currencies like JPY and CHF and thus dragging the pair to the area of multi-week lows around the 0.9900 handle.

    The current sell-off in crude oil prices is also collaborating with the sentiment, with the barrel of WTI coming back to the $30.00 neighbourhood.

    USD/CHF significant levels

    The pair is now retreating 0.08% at 0.9914 facing the next support at 0.9880 (low Feb.5) followed by 0.9784 (low Dec.14) and finally 0.9724 (200-day sma). On the other hand, a surpass of 1.0021 (55-day sma) would open the door to 1.0072 (20-day sma) and then 1.0199 (high Feb.3).
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