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USD/CHF seeks fresh momentum around parity

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - USD/CHF has managed to take back some of the steep losses incurred last week after the ECB fell short of expectations at providing further monetary stimulus. USD/CHF dropped nearly 400 pips in one single day and bottomed out at 0.9874, from where it has been staging a mild upward correction.

    However, with the upside capped by 1.0033, the pair entered a consolidative phase over the last sessions as investors attention now turns to SNB (Dec 10) and Fed (Dec 16) decisions in the upcoming days. At time of writing, the pair is trading at 1.0013, still up 0.48% on the day.

    USD/CHF key levels

    In terms of technical levels, next resistances are seen at 1.0033 (Dec 4 high), 1.0132 (21-day SMA) and then 1.0263 (Dec 3 high). On the other hand, next supports could be faced at 0.9960 (Dec 7 low), 0.9910 (Dec 4 low) and 0.9900 (psychological level/50-day SMA).
    For more information, read our latest forex news.
     

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