USD/CHF retreats from highs, back around 1.0080

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback is now giving away some of its earlier gains vs. its Swiss peer, prompting USD/CHF to correct lower towards the 1.0080 area.

    USD/CHF bullish on USD momentum

    The pair is advancing for the third consecutive session so far, bolstered by the upbeat tone in the greenback observed since last Friday’s US Payrolls. A better sentiment in the risk-associated space today has removed some tailwinds from the Swiss franc, allowing spot to climb beyond the key 1.0100 barrier.

    The franc met extra selling pressure following comments by SNB’s F.Zurbruegg, stressing once again the current overvalued condition of the franc.

    USD/CHF levels to watch

    At the time of writing the pair is gaining 0.55% at 1.0080 facing the next hurdle at 1.0131 (high Jan.5) followed by 1.0200 (psychological handle) and finally 1.0335 (high Nov.27). On the other hand, a break below 0.9963 (20-day sma) would open the door to 0.9784 (low Dec.14) and then 0.9677 (76.4% Fibo of 0.9473-1.0335).
    For more information, read our latest forex news.

Share This Page

free forex signals