USD/CHF remains below 20-day MA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - The Swiss franc is about to end the day modestly lower against the US dollar but far from the lows on a quiet session in the forex market amid low volume.

    USD/CHF levels to watch

    USD/CHF opened Monday testing last week lows at the 0.9850 zone. Then it rebounded and peaked at 0.9901, but quickly pulled back. The 0.9900 area is offering strong resistance; is where the 20-day EMA stands. Above the next key short-term resistance is the downtrend line coming from December highs, currently at 0.9915/20.

    After making sharp moves at the beginning of the month, the pair then moved slowly. Currently it holds a bearish tone after being unable to rise back above the parity level last week. It has been falling constantly since December 18 at a modest pace. To the downside immediate support could be located at 0.9850 (Dec 22, 24 & 28 lows) and 0.9815 (Dec 09 low).
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