USD/CHF rebounds from 0.9800

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback is now gathering further traction vs. its Swiss peer, pushing USD/CHF to test the 0.9855/60 band ahead of US data.

    USD/CHF attention to US docket

    After finding decent support in the 0.9800 neighbourhood, the pair has sparked a correction higher which is now retesting the 0.9860 area amidst a better tone in the US dollar.

    The greenback will remain under pressure in light of key US inflation figures due later and the 2-day FOMC meeting, which kicks in today. Market consensus expects the headline CPI to have advanced 0.4% on a year to November, while the core print is seen at 2.0% YoY.

    USD/CHF relevant levels

    As of writing the pair is down 0.14% at 0.9852 and a breach of 0.9677 (76.4% Fibo of 0.9473-1.0335) would aim for 0.9653 (200-day sma) and then 0.9473 (low Oct.15). On the flip side, the initial up barrier lines up at 1.0000 (psychological level) followed by 1.0038 (high Dec.7) and finally 1.0335 (2015 high Nov.27).
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