USD/CHF remains capped by 1.0090

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - USD/CHF continues to trade near 8-month highs scored last Friday, having spent most of the day within a slim range unable to pick up fresh momentum. In the absence of first-tier data, trading remain driven by risk sentiment while attention shifts to FOMC meeting minutes to be released on Wednesday.

    USD/CHF rose to a daily high of 1.0090, roughly at the same level it did Friday, but found resistance and was confined to a phase of consolidation, with the downside contained by the 1.0040 zone. At time of writing, the pair is trading at 1.0080, still up 0.18% on the day.

    USD/CHF technical levels

    In terms of technical levels, next resistances could be faced at 1.0094 (Nov 13 high), 1.0126 (Mar 12 high) followed by 1.0239 (2015 high scored on Jan 14 pre-SNB shocker). On the flip side, supports are seen at 1.0012 (10-day SMA), 0.9989 (Nov 12 low), 0.9948 (23.6% Fibo of 0.9475-1.0094) and 0.9920 (Nov 5 low).
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