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USD/CHF keeps highs near 1.0170

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The US dollar is prolonging its rebound from the 1.0130 region vs. the Swiss franc so far, with USD/CHF keeping the trade in the upper bound of the range near 1.0170.

    USD/CHF attention to the US calendar

    Spot is advancing for the third week in a row and navigating just below weekly highs around the 1.0200 key barrier, bolstered by an upbeat one from the greenback following yesterday’s FOMC minutes.

    In the data/event front, SNB’s VP F.Zurbruegg has defended the implementation of negative interest rates, deeming it as an ‘essential tool’, while at the same time he reiterated the readiness of the cenral bank to intervene in the FX markets in case of need.

    In the US economy, Durable Goods Orders, Initial Claims and Pending Home Sales are due.

    USD/CHF significant levels

    The pair is now up 0.21% at 1.0172 and a breakout of 1.0206 (23.6% Fibo of 1.0335-0.9784 and high Jan.26) would open the door to 1.0260 (high Nov.26) and then 1.0335 (high Nov.26). On the other hand, the next support aligns at 1.0062 (20-day sma) ahead of 0.9995 (61.8% Fibo of 1.0335-0.9784) and finally 0.9912 (100-day sma).
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