USD/CHF rises for the third day in a row

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The US dollar continues to recover lost ground versus the Swiss franc and is rising for the third day in a row. USD/CHF is testing the 0.9900 area after falling last week to 0.9655, the lowest level in almost four months.

    Despite falling against greenback, the Swissy is among the top performers in Europe, gaining ground versus the euro and the pound. The US dollar gained momentum after Wall Street opening bell and since then it has been rising constantly in the market, ahead of the release tomorrow of the FOMC minutes.

    In the US, equities recovered strength and push the Dow Jones further in positive territory. The blue chip index was up 1.30% and the Nasdaq was rising more than 2%. Crude oil was consolidating losses, hovering around $29.00 a barrel (WTI).

    USD/CHF technical levels

    Resistance levels might be seen at 0.9900 (psychological), 0.9955/60 (Oct 28 & 29 high / Jan 15 low) and 0.9995 (20-day SMA). On the opposite direction, potential support levels could be located 0.9845 (daily low), 0.9820 (Feb 10 high) and 0.9690/95 (Feb 09 low).
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