USD/CHF off highs, returns to 0.9900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The risk-on trade keeps dominating the sentiment today, with USD/CHF regaining the 0.9900 handle and above.

    USD/CHF boosted by sentiment

    The current risk appetite trends have prompted traders to increase their outflows from the safe have CHF in favour of the greenback, thus lifting the pair to the 0.9900 neighbourhood, or multi-day peaks.

    Data wise in the Alpine economy, the ZEW Survey-Expectations has come in at -5.9 for the current month, down from January’s -3. In the US calendar, the FOMC minutes will steal the show later in the NA session.

    USD/CHF key levels

    The pair is now up 0.16% at 0.9901 facing the next up barrier at 0.9941 (100-day sma) followed by 0.9991 (20-day sma) and then 1.0031 (61.8% Fibo of YTD down move). On the other hand, a break below 0.9800 (23.6% Fibo of YTD down move) would open the door to 0.9741 (100-day sma) and then 0.9658 (low Feb.11).
    For more information, read our latest forex news.

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