USD/CHF shoots to highs near 0.9840

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Swiss is now rapidly depreciating vs. the greenback on Monday, with USD/CHF now advancing to the 0.9940 area, or session highs.

    USD/CHF boosted by ‘flight-to-risk’

    The risk-on trade keeps dominating the early hours of the European trading today, prompting investors to accelerate their exit from the safe haven CHF in favour of its American peer.

    Absent releases in the US and Switzerland today, the pair’s performance will be exclusively determined by the risk trends, while it continues to edge higher after last week’s lows in the mid-0.9600s.

    USD/CHF key levels

    The pair is now up 0.65% at 0.9829 and a breakout of 0.9981 (55-day sma) would aim for 0.9994 (55-day sma) and then 1.0131 (high Jan.5). On the other hand, the next support lies at 0.9658 (low Feb.11) followed by 0.9523 (low Sep.18 2015) and finally 0.9473 (low Oct.15 2015).
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