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USD/CHF jumps to fresh highs ahead of 0.9900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The bid tone on the US dollar keeps strengthening in the European session, now pushing USD/CHF to fresh two-day highs just ahead of 0.99 handle.

    USD/CHF: Friday’s high in sight

    Currently, the USD/CHF pair gains 0.38% to trade at fresh session highs of 0.9902. The major regained hourly 100-SMA at 0.9884 levels and extends higher mainly driven by a solid comeback staged by the greenback against its six major competitors ahead of the US factory orders data.

    Moreover, steep losses seen in the EUR/USD pair also led to the weakness in the Swiss franc, further boosting USD/CHF. Later today, the major will track the sentiment on the Wall Street while the US data will also remain in focus.

    USD/CHF Technical Levels

    To the upside, the next resistance is located 0.9918 (Oct 30 High) levels and above which it could extend gains to 0.9959/60 (Oct 28 & 29 High). To the downside, immediate support might be located at 0.9861 (10-DMA) and below that at 0.9831 (1h 200-SMA).
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