USD/CHF reaches fresh 10-month highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - USD/CHF has continued to edge higher on Wednesday, printing highs not seen since January, when the SNB surprisingly decided to remove the franc’s cap.

    Following a short-lived pullback, USD/CHF resumed its advance and climbed to a fresh 10-month peak of 1.0175 in recent dealings, as investors gear up for the FOMC minutes release looking for signs of a December lift-off.

    USD/CHF technical levels

    At time of writing, the pair is trading at 1.0170, recording a 0.25% gain on the day. In terms of technical levels, next resistances could be faced 1.0239 (2015 high scored on Jan 14 pre-SNB shocker) and not much until 1.0300 (psychological level). On the flip side, supports are seen at 1.0091 (Nov 17 low), 1.0062 (10-day SMA) and 0.9989 (Nov 12 low).
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