USD/CHF rising at a slow pace

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The US dollar is rising for the third day in a row against the Swiss franc on another quiet session in the forex market. Despite gaining constantly since Friday, USD/CHF has risen less than a hundred pips.

    Today it peaked during the American session at 0.9736, the highest level since last Thursday. Near the end of the session, it was holding near the highs, up 30 pips from yesterday’s closing price and less than a hundred above last week lows.

    USD/CHF is consolidating after a sharp decline that started back on March 10 from levels above parity. It bottomed last week at 0.9650, the lowest level since October 22.

    USD/CHF technical levels

    Resistance levels might be seen at 0.9750 (March 16 low) 0.9785 (March 17 high) and 0.9865 (20-day moving average). On the opposite direction, support could be located at 0.9685 (daily low), 0.9650 (March low) and 0.9600 (psychological).
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