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USD/CHF hits levels under 1.0000 and rebounds

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - USD/CHF dropped sharply amid a decline of the US dollar across the board and printed a fresh daily low at 0.9988, the weakest level since last week NFP report. The pair rebounded quickly from under parity and currently is trading at 1.0020/30, still down for the day but far from the lows.

    Volatility increased across financial markets, ending hours of calm and limited price action. Greenback dropped in the market in a few minutes but then recovered most of the losses.

    USD/CHF: Will it keep the range?

    Since the beginning of the week USD/CHF has been trading in a range above the parity level, with the upside facing resistance at 1.0085 and with support at 1.0020/30. A significant close below 1.0020 would weaken the US dollar opening the doors for a bearish correction. On the upside, above 1.0085 the pair is likely to resume the rally.
    For more information, read our latest forex news.

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