USD/CHF jumps to test 0.9950 amid calm markets

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The USD/CHF pair is seen benefiting amid a better risk tone in the markets, which provides much needed support to the USD bulls.

    USD/CHF tracks USD recovery

    Currently, the USD/CHF pair trades 0.19% higher at fresh session highs of 0.9941, bouncing-off lows struck at 0.9909. The bid tone around the USD/CHF keeps growing bigger largely on the back of rising demand for the greenback against its major counterparts, as markets prefer to hold the US currency ahead of the all important US NFP report.

    Meanwhile, the prices will continue to track the favourable broader markets sentiment, with the European equities consolidating this week’s rally.

    USD/CHF Technical Levels

    To the upside, the next resistance is located at 1.0000 (parity) and above which it could extend gains to 1.0050 (psychological levels). To the downside, immediate support might be located at 0.9909/00 (daily low/ psychological levels) and below that 0.9867 (Feb 26 Low).
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