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USD/CHF in highs through 1.0200

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback keeps pushing higher vs. the Swiss franc on Friday, now lifting USD/CHF beyond the 1.0200 handle and posting fresh session highs at the same time.

    USD/CHF firmer ahead of US GDP

    The pair is clinching multi-week peaks in the 1.0220 area amidst increasing buying interest around USD, which is trading in daily highs when measured by the US Dollar Index.

    USD is trading on a firmer note today following the unexpected rate cut by the BoJ at its meeting, taking the benchmark rate to -0.10% for the first time ever. However, the USD upside will be put to the test later, in light of the release of the advance US GDP figures during Q4, where consensus remains pretty divided on the outcome.

    USD/CHF significant levels

    The pair is now up 0.66% at 1.0205 and a breakout of 1.0259 (high Dec.3) would open the door to 1.0311 (high Dec.2) and then 1.0335 (high Nov.26). On the other hand, the next support aligns at 1.0071 (20-day sma) ahead of 0.9995 (61.8% Fibo of 1.0335-0.9784) and finally 0.9917 (100-day sma).
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