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USD/CHF off highs, back to 0.9770

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback extends its upside momentum vs. the Swiss currency today, pushing USD/CHF further north of the 0.9700 handle.

    USD/CHF bounces off 0.9650

    Spot has managed to revert the deep pullback post-FOMC to fresh 2016 lows in the mid-0.9600s, advancing over a cent since then and trading closer to the key 200-day sma around 0.9815.

    In the meantime, thin trade conditions continue to prevail today against the backdrop of the Good Friday holiday, with the only release being the US GDP figures during the fourth quarter (1.0% exp.).

    USD/CHF key levels

    The pair is now gaining 0.07% at 0.9765 facing the next hurdle at 0.9813 (200-day sma) ahead of 0.9848 (20-day sma) and finally 1.0098 (post-ECB high Mar.10). On the other hand, a breakdown of 0.9647 (2016 low Mar.17) would aim for 0.9473 (monthly low Oct.15 2015) and then 0.9251 (monthly low Aug.24 2015).
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