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USD/CHF jumps to 7-month highs after FOMC statement

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - USD/CHF soared after the decision of the Federal Reserve to leave rates unchanged. The statement left the door open to a rate hike in December and boosted the US dollar across the board.

    The pair jumped from 0.9825, rising more than a hundred pips and peaked at 0.9942, hitting the strongest level since March 19.

    Greenback is rising for the sixth trading day in a row and is holding so far above the 0.9900 area, where August highs area located. A consolation at current levels could gave further momentum to the dollar to rise toward parity.

    The euro and the Swiss franc dropped across the board after the decision to leave rates unchanged. The most affected was the euro as EUR/USD tumbled from 1.1065 toward 1.0900.

    USD/CHF technical levels

    To the upside resistance levels might lie at 0.9975, 1.0000, 1.0060 and 1.0090 (March 17 highs); on the opposite direction support now might be seen at 0.9910, 0.9875 (Oct 27 high) and 0.9855.
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