USD/CHF shrugs off data, climbs to fresh daily highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The dollar managed to shrug off disappointing US retail sales and PPI, with USD/CHF climbing to fresh daily highs following a short-lived pullback.

    USD/CHF briefly moved below the parity level, only to quickly bounce, having climbed toward a high of 1.0073 in recent dealings. At time of writing, the pair is trading at 1.0050, still 0.52% up on the day.

    Even though retail sales and PPI came in below expectations, data will likely take a backseat after last week's strong NFP report.

    USD/CHF technical levels

    As for technical levels, next resistances are seen at 1.0089 (Mar 12 high), 1.0126 (Mar 12 high) followed by 1.0239, which is the 2015 high scored on Jan 14 pre-SNB shocker. On the other hand, supports could be faced at 0.9989 (Nov 12 low), 0.9943/41 (Nov 6 low/23.6% Fibo of 0.9475-1.0085) and 0.9920 (Nov 5 low).
    For more information, read our latest forex news.

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