USD/CHF rises above parity

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    USD/CHF rose through the parity level and struck fresh 1-week highs as the Swissy is among the worst performers on Monday.

    The Swiss franc has been under pressure amid increasing speculation the SNB could take preemptive action to limit any post ECB fallout. ECB is due to decide on monetary policy on Thursday.

    USD/CHF rose to a daily high of 1.0011, but found resistance ahead of last week’s peak of 1.0037. At time of writing, the pair was trading at 1.0003, up 0.71% on Monday.

    USD/CHF technical levels

    In terms of technical levels, USD/CHF could find next resistances at 1.0037 (Feb 29 high), 1.0073 (Feb 4 high) and 1.1100 (psychological level). On the other hand, supports are seen at 0.9890 (20-day SMA), 0.9870 (Feb 26 low) and 0.9852 (Feb 24 & 17 lows).
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