USD/CHF holds at 7-week highs as franc underperforms

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - The Swiss franc is among the worst performers on Tuesday, with USD/CHF trading at 7-week highs at the beginning of the New York session.

    USD/CHF climbed more than 50 pips from session lows to a daily high of 1.0166, peaking roughly at the same level it did during the previous two sessions. However, the dollar lacked momentum to clear the resistance area and the pair was last trading at 1.0158, still up 0.32% on the day.

    USD/CHF technical levels

    In terms of technical levels, if USD/CHF manages to break above the 1.0165/70 zone, next resistances are seen at 1.0200 (psychological level) ahead of 1.0263 (Dec 3 high). On the downside, next supports could be found at 1.0116 (Jan 26 low) and 1.0075 (10-day SMA) ahead of 1.0030 (50- & 20-day SMAs).
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