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USD/CHF reaches 2-day highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    USD/CHF advanced to fresh highs or the day as the dollar was lifted by a solid US retail sales reading.

    Retail sales in the US rose 0.2% in January to a seasonally adjusted $449.9 billion. Sales were expected to grow by 0.1%. Meanwhile compared with a year earlier, retail sales increased 3.4%.

    USD/CHF climbed nearly 40 pips to a high of 0.9780 but momentum faltered quickly. At time of writing, the pair was trading at 0.9775, up 0.54% on the day although still headed for its second weekly loss in a row.

    USD/CHF levels to consider

    In terms of technical levels, USD/CHF could find immediate resistances at 0.9819 (Feb 10 high) and 0.9874 (Feb 9 high). On the flip side, supports are seen at 0.9660 (Feb 11 low), 0.9579 (Oct 22 low) and 0.9500 (psychological level).
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