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USD/CHF retraces most of its daily gains

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    USD/CHF retraced most of its intraday gains and fell back to the lower-side of Monday’s range as the greenback weakened across the board during the American session.

    In the absence of first-tier data, investors have continued to digest Friday’s nonfarm payrolls numbers with the dollar underperforming versus major peers.

    USD/CHF completed a round trip to parity and fell back to the 0.9935 zone before bouncing slightly amid comments from Fed’s Vice Chairman Fischer, who said that they are not so far away from inflation target.

    USD/CHF technical levels


    At time of writing, USD/CHF is trading at 0.9960, still 0.28% higher on the day. In terms of technical levels, next resistances are seen at 1.0037 (Feb 29 high), 1.0073 (Feb 4 high) and 1.1100 (psychological level). On the other hand, supports could be found at 0.9890 (20-day SMA), 0.9870 (Feb 26 low) and 0.9852 (Feb 24 & 17 lows).

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