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USD/CHF retakes parity level

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The greenback appears recovered from yesterday’s dreadful session, now lifting USD/CHF beyond parity level ahead of November’s Payrolls.

    USD/CHF supported around 0.9850

    The sharp sell-off in the US dollar seems to have found decent support in the 0.9870 area after the ECB meeting on Thursday, allowing the current rebound towards the parity neighbourhood as markets get ready for US Non-farm Payrolls (200K exp.).

    In the meantime, spot is advancing for the first session after four consecutive declines, including a rejection from fresh cycle highs near 1.0340.

    USD/CHF levels to watch

    At the moment the pair is up 0.90% at 1.005 facing the next hurdle at 1.0131 (high Mar.12) followed by 1.0241 (high Jan.14) and finally 1.0335 (2015 high Nov.27). On the flip side, a break below 0.9870 (low post-ECB Dec.3) would open the door to 0.9793 (100-day sma) and then 0.9650 (200-day sma).
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