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USD/CHF reaches 1-month highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - USD/CHF climbed to fresh 1-month highs on Monday as the dollar strengthened broadly during the New York session despite disappointing manufacturing and construction figures.

    The US dollar reached rose through the parity level and hit its highest level in a month against the franc at 1.0062 before losing momentum. At time of writing, the pair is trading at 1.0025, still up 0.22% on the day.

    Disappointing US data was not enough to discourage dollar buyers. The ISM manufacturing index fell to 48.2 in December, its lowest level since June 2009 while construction spending decreased 0.4% in November, missing consensus of a 0.5% rise.

    USD/CHF key levels

    In terms of technical levels, next resistances are seen at 1.0062 (Jan 4 high), 1.0100 (psychological level) and 1.0263 (Dec 3 high). On the flip side, supports could be found at 0.9923 (Jan 4 low), 0.9910 (20-day SMA) and 0.9872 (Dec 31 low).
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