USD/CHF consolidates near 1.0000

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - USD/CHF is trading around the parity level, modestly higher for the day, but consolidating weekly losses. The pair remained steady after the release of the NFP and within the previous trading range.

    It peaked at 1.0032 but only to retreated quickly. The decline found support at the 20-hour MA that nows stands at 0.9950/60. A break lower could add momentum to the Swiss franc. To the upside, price has been unable to hold above 1.0015; if it manages to confirm on top greenback could extend the correction after yesterday’s collapse.

    USD/CHF: A very negative week

    The pair is about to have the worst weekly result since mid-August at is trades more than 300 pips below the level it had seven days ago. The Swiss franc is among the top performers of the week while the US dollar is the opposite. Greenback dropped sharply after the European Central Bank meeting.

    Today the pair failed to recover despite US job numbers that left the door wide open for a rate hike at the next FED meeting. The decision of the central bank will be announced on December 16.
    For more information, read our latest forex news.

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