USD/CHF falls back below 0.9900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - While the dollar continues to oscillate in familiar ranges ahead of the eagerly awaited Federal Reserve decision, the franc has managed to advance slightly, dragging USD/CHF back below the 0.9900 level.

    USD/CHF made an upside attempt during the European session but was capped by the 50-day SMA and turned lower, although movements have been subdued as investors take a cautious stance hours ahead of the FOMC statement. Having fallen below 0.9900, USD/CHF hit a session low of 0.9875 and it was last down 0.27% at 0.9883.

    Looking ahead, the FOMC will announce its decision at 19:00 GMT, with most analysts expecting rates to “lift-off” from record low levels. With most of the rate hike prices in, focus will be on what Yellen says about the future path of rates.

    USD/CHF levels to watch

    In terms of technical levels, immediate resistances could be found at 0.9922/24 (50-day SMA/Dec 15 high), 0.9945 (Dec 9 high and 1.0030/35 (Dec 4 & 7 highs). On the other hand, supports could be faced at 0.9812 (100-day SMA), 0.9785 (Dec 14 low) and then 0.9755 (Oct 26 low).
    For more information, read our latest forex news.

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