USD/CHF drops below 1.0000

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - A weak US dollar, particularity against the euro and the Swiss franc, pushed USD/CHF back below the parity level. The pair dropped to 0.9957, hitting the lowest level since Monday.

    USD/CHF down after data

    The pair was trading steady on Friday, moving sideways around 1.0040 and after the release of US economic data (retail sales and PPI) broke to the downside, falling 80 pips in a few minutes. Afterwards it stabilized and moved modestly off session lows. It was trading at 0.9975/80, 35 pips above the level it had a week ago; holding a bearish tone.

    USD/CHF technical levels

    To the downside, the immediate resistance is located at daily lows at 0.9960, where the 20-day moving average stands; below here the next levels to watch are 0.9920 (Jan 07 low) and 0.9850 (Dec 24, 28 and 30 low). On the opposite direction, resistance could be located at 1.0020/30 (Dec 04, 07 high / Jan 13 low) and 1.0120/25 (January high).
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