USD/CHF rebounds from 0.9620

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback is losing ground across the board at the end of the week, now dragging USD/CHF to the lower bound of the range near 0.9630.

    USD/CHF lower on USD weakness

    The dollar keeps the bearish sentiment today following the recent dovish tone from the FOMC minutes released yesterday, where the Committee expressed its concerns on the US inflation outlook as well as events overseas, mainly from China and the rest of the emerging markets.

    In the data space, US Import and Export Prices are only due today along speeches by Fed’s Lockhart and Evans.

    USD/CHF levels to consider

    At the moment the pair is retreating 0.36% at 0.9626 with the next support at 0.9603 (100-day sma) ahead of 0.9572 (200-day sma) and then 0.9527 (low Sep.18). On the flip side, a break above 0.9696 (55-day sma) would open the door to 0.9843 (monthly high Sep.23) and finally 0.9903 (high Aug.11).
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