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USD/CHF poised for fifth straight weekly gain

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The USD/CHF pair appears poised for ending higher for the fifth straight week and could witness a highest weekly close since the second week of January.

    Supported by hourly 100-MA

    The pair found support at the hourly 100-MA located at 1.0143 in the US session. The CHF has managed to gain ground from the Thursday’s Asian session on account of broad based USD selling. However, the pair is still way above its weekly opening price of 1.0051.

    However, it remains to be seen if the pair manages to end the week above 1.01337, which was the opening price of the second week of January.

    USD/CHF Technical Levels

    At 1.01538, the immediate resistance is located at 1.0161 (hourly 50-MA), above which the pair could rise to 1.02 (previous session’s high). On the other side, support is seen at 1.0143 (hourly 100-MA) and 1.0125 (5-DMA), under which the pair could test 10-DMA at 1.0091.
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