USD/CHF jumps to 1.0060 on US data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 6, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The dollar has accelerated its upside on Friday, now pushing USD/CHF to post 8-month peaks near 1.0060.

    USD/CHF trespassed 1.0000 on Payrolls

    Spot has been propelled well above the parity level after the US labour market showed the economy has created 271 jobs during October and the unemployment rate has deflated to 5% from September’s 5.1%. The other salient point has come from Average Hourly Earnings, posting the biggest annual raise since 2009.

    In the meantime, the pair is navigating its third consecutive week in positive figures, advancing uninterruptedly since October’s troughs in the 0.9470 area.

    USD/CHF levels to consider

    At the moment the pair is gaining 1.05% at 1.0062 facing the next resistance at 1.0100 (psychological handle) ahead of 1.0131 (high Mar.12) and finally 1.0241 (2015 high Jan.14). On the other hand, a breach of 0.9831 (low Nov.2) would expose 0.9727 (55-day sma) and then 0.9663 (100-day sma).
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