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USD/CHF gives away gains, back below 0.9700

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback has faded the initial spike to the vicinity of 0.9740 vs. the Swiss franc, sending USD/CHF back to sub-0.9700 levels.

    USD/CHF focus on US data, Fedspeak

    Spot has returned to levels below the 0.9700 handle after a failed attempt to extend last Friday’s rebound from the mid-0.9600s, all amidst a firm tone in the greenback and crude oil prices sidelining at recent levels.

    Later in the NA session, US Existing Home Sales are due followed by the speech by Atlanta Fed’s D.Lockhart, while Switzerland’s trade balance figures are only due tomorrow.

    USD/CHF key levels

    The pair is now retreating 0/05% at 0.9687 facing the next support at 0.9647 low Mar.17) followed by 0.9523 (monthly low Sep.18 2015) and then 0.9473 (monthly low Oct.15 2015). On the other hand, a breakout of 0.9806 (200-day sma) would expose 0.9870 (20-day sma) and finally 0.9917 (high Mar.16).
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