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USD/CHF revisits daily lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - USD/CHF is back moving toward daily lows after a short-lived bounce upside attempt was capped by the 1.0160 zone.

    In the absence of economic data, USD/CHF has been oscillating in a range over the last sessions, unable to make a directional move.

    USD/CHF started the week hitting a fresh 7-week high of 1.0167 but failed to hold and pulled back to the 1.0125 area before finding support. Despite a bounce attempt, the pair turned back south and fell to the lower-side of its daily range. At time of writing, the pair is trading at 1.0132, 0.16% below its opening price.

    USD/CHF technical levels

    In terms of technical levels, next resistances are seen at 1.0167 (Jan 25 high) and 1.0200 (psychological level) ahead of 1.0263 (Dec 3 high). On the downside, next supports could be found at 1.0124 (Jan 25 low) and 1.0061 (10-day SMA).
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