USD/CHF off highs, back to 1.0070

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - USD/CHF has lost some upside momentum following the opening bell in Europe, now giving away part of its early gains and returning to the 1.0070/65 band.

    USD/CHF upside capped above 1.0080

    The increasing risk appetite has picked up pace during the Asian session after the Chinese GDP figures, prompting traders to move away from the safe haven CHF in favour of the greenback.

    Data wise in the Alpine economy, Producer and Import Prices have contracted more than expected during December, 0.4% on a monthly basis and 5.5% YoY, whereas the US docket will see the NAHB index seconded by TIC Flows.

    USD/CHF significant levels

    The pair is now gaining 0.25% at 1.0075 with the next resistance at 1.0125 (38.2% Fibo of 1.0335-0.9784) followed by 1.0206 (23.6% Fibo of 1.0335-0.9784) and then 1.0335 (high Nov.26). On the other hand, a breakdown of 1.0024 (55-day sma) would open the door to 0.9993 (20-day sma) and finally 0.9889 (100-day sma).
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