USD/CHF off highs near 1.0170

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The generalized offered tone around the greenback remains well and sound on Thursday, with USD/CHF now gyrating around the 1.0170 handle.

    USD/CHF lower on FOMC, US data eyed

    Spot is correcting lower after the FOMC minutes failed to lend further support to the USD on Wednesday. However, the Committee has coincided on the increasing probability of a Fed’s lift-off in December, keeping intact its ‘data-dependent’ stance.

    The pair met a tough resistance around 1.0220 in the wake of the release, prompting the current leg lower to the 1.0170 area. Ahead in the session, US Initial Claims and the Philly Fed will take centre stage, followed by Fed’s Lockhart and Fischer speeches.

    USD/CHF key levels

    The pair is down 0.23% at 1.0172 facing the next support at 1.0067 (uptrend from early November) followed by 1.0000 (psychological level) and finally 0.9831 (low Nov.2). On the other hand, a breakout of 1.0241 (2015 high Jan.14) would expose 1.0277 (monthly high September 2010).
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