USD/CHF sinks to lows around 1.0030

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback keeps trading on a soft note at the end of the Asian session on Thursday, now taking USD/CHF to test daily lows in the 1.0030/20 band.

    USD/CHF supported around parity level

    Spot is extending its recent sideline pattern around the low-1.0000s while the greenback remains unable to gather some sustainable traction. The US dollar keeps the choppy trade so far during the week, with yesterday’s US CPI figures coming in a tad below what market was expecting, prompting sellers to step in although the decline seems to have found decent support around parity.

    Nothing scheduled in Switzerland today, whereas the usual weekly report on the US labour market is the only event across the pond.

    USD/CHF significant levels

    The pair is now losing 0.11% at 1.0031 facing the next support at 0.9954 (low Jan.15) ahead of 0.9914 (76.4% Fibo of 1.0335-0.9784) and finally 0.9892 (100-day sma). On the other hand, a breakout of 1.0125 (38.2% Fibo of 1.0335-0.9784) would aim for 1.0206 (23.6% Fibo of 1.0335-0.9784) and then 1.0335 (high Nov.26).
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