USD/CHF hits 2 ½-month highs above 0.9850

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - USD/CHF consolidates near 2 ½-month highs on Tuesday despite the latest string of US data came on the soft side one day ahead of the Federal Reserve monetary policy decision.

    The dollar remained resilient despite disappointing US durable goods orders, services PMI and consumer confidence readings, still on track to post its fifth daily gain in a row against the franc. At time of writing, the pair is trading at 0.9850, up 0.16% on the day, and having hit its highest level since mid August at 0.9858.

    USD/CHF levels to watch

    In terms of technical levels, next resistances are seen at 0.9889 (Aug 12 high), 0.9902 (Aug 11 high) and 0.9982 (Mar 19 high). On the flip side, supports could be faced at 0.9805 (Oct 27 low), 0.9755 (Oct 26 low) and 0.9711 (Oct 23 low/38.2% Fibo retracement of 0.9475-0.9858).
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