USD/CHF rises above 0.98

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The offered tone around CHF gathered pace in Europe, pushing the USD/CHF pair to a high of 0.9817 levels.

    SNB under pressure?

    The CHF is being ditched across the board after the ECB’s Draghi signaled more easing in December. Since then the speculation of an SNB retaliation has caught fire, leading to a drop in the Swiss Franc. The pair is up for the eighth consecutive session.

    The focus now is on the US new home sales figure due later today. The pair is now trading around its daily high of 0.9817 levels.

    USD/CHF Technical Levels

    The immediate resistance is seen at 0.9844 (Sep 25 high), above which the pair could target 0.9903 (Aug 11 high). On the lower side, a break below 0.98 could lead to a re-test of the daily low at 0.9756.
    For more information, read our latest forex news.

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