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USD/CHF plummets to 0.9640, 2016 lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The offered tone around the greenback is now gathering further traction, sending USD/CHF to fresh lows near 0.9640.

    USD/CHF attention to ADP

    The pair is posting fresh yearly lows in the 0.9645/40 band following a continuations of the selling pressure around the dollar, recently exacerbated by yesterday’s dovish comments by Chairwoman J.Yellen.

    In the data space, Switzerland’s KOF Leading Indicator has surprised to the upside at 102.5 for the current month, while the ADP report will take centre stage later in the NA session.

    USD/CHF key levels

    The pair is now down 0.28% at 0.9641 facing the next support at 0.9523 (monthly low Sep.18 2015) ahead of 0.9473 (monthly low Oct.15 2015) and then 0.9251 (monthly low Aug.24 2015). On the other hand, a break above 0.9791 (high Mar.25) would aim for 0.9819 (200-day sma) and then 0.9919 (55-day sma).
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