USD/CHF firmer, advances beyond 0.9600

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback is extending its upside momentum today, taking USD/CHF to the area of session highs in the 0.9600 neighbourhood.

    USD/CHF up on risk-appetite

    Positive results from the Chinese Services PMI during March have ignited a better tone in the risk-associated space today, prompting the pair to regain the upside after bottoming out in the mid-0.9500s on Tuesday.

    Absent releases in the Swiss economy today, all the attention will be on the FOMC minutes due in the European evening, with market consensus pointing to a mixed tone from the Committee.

    USD/CHF key levels

    The pair is now advancing 0.47% at 0.9607 facing the next resistance at 0.9715 (20-day sma) followed by 0.9791 (high Mar.25) and finally 0.9824 (200-day sma). On the other hand, a breakdown of 0.9547 (2016 low Apr.1) would aim for 0.9523 (monthly low Sep.18 2015) and then 0.9473 (monthly low Oct.15 2015).
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