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USD/CHF regains 0.9600 and above

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The greenback is recovering ground lost today, now pushing USD/CHF back above the 0.9600 handle.

    USD/CHF rebounds from 0.9550

    Spot has found some traction after Friday’s multi-month troughs in the 0.9550 area, advancing to daily highs above the key 0.9600 mark propped up by some sort of pick up in the demand for the greenback.

    Nothing scheduled data wise in Switzerland, whereas Factory Orders and the Fed’s Labor Market Conditions Index are due later in the NA session, along with the speech by Boston Fed E.Rosengren.

    USD/CHF key levels

    The pair is now up 0.25% at 0.9606 facing the next up barrier at 0.9735 (20-day sma) ahead of 0.9791 (high Mar.25) and finally 0.9824 (200-day sma). On the other hand, a breach of 0.9558 (2016 low Apr.1) would open the door to 0.9523 (monthly low Sep.18 2015) and then 0.9473 (monthly low Oct.15 2015).
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