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USD/CHF extends the break above 0.9700

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback remains on a firm footing today, now lifting USD/CHF to the 0.9755/60 band, or session tops.

    USD/CHF boosted by USD-buying

    Spot is advancing for the fourth consecutive session so far, trimming part of last week’s deep pullback towards the mid-0.9600s and all bolstered by a resurgence of the buying interest around the US dollar.

    In the data space, ZEW Expectations for the current month are due in Switzerland later, while New Home Sales and the EIA’s weekly report on inventories are next on tap in the US docket.

    USD/CHF key levels

    The pair is now gaining 0.30% at 0.9757 facing the next hurdle at 0.9807 (200-day sma) ahead of 0.9865 (20-day sma) and finally 1.0098 (post-ECB high Mar.10). On the other hand, a breakdown of 0.9647 (2016 low Mar.17) would aim for 0.9473 (monthly low Oct.15 2015) and then 0.9251 (monthly low Aug.24 2015).
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