USD/CHF holds near 8-month highs above parity

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - Following a short-lived pullback, USD/CHF resumed the climb and erased intraday losses as the greenback gathers pace across the board at the beginning of the New York session.

    USD/CHF started the day on the defensive as investors booked profits following a sharp rally of the dollar triggered by a strong jobs report, which led the pair to its highest level in nearly 8 months at 1.0075. However, the downside was contained by the parity area and USD/CHF climbed back above 1.0050 coincidentally with a greenback broad comeback.

    USD/CHF levels to consider

    At time of writing, USD/CHF was trading at 1.0055, virtually unchanged on the day. On the upside, next resistance levels could be found at 1.0075 (Nov 6 high), 1.0090 (Mar 17 high) and then 1.0126 (Mar 12 high). On the other hand, supports are seen at 0.9997 (Nov 9 low), 0.9943 (Nov 6 low) and 0.9932 (23.6% Fibo of 0.9475-1.0075).
    For more information, read our latest forex news.

Share This Page

free forex signals