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USD/CHF slides below 1.0200

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - The dollar was trading mixed across the board ahead of the New York opening, with USD/CHF sliding to fresh daily lows sub-1.0200.

    USD/CHF lost more than half a cent throughout the day, extending a pullback from a 2-month high of 1.0255 to a daily low of 1.0185, following a string of mixed US data. At time of writing, the pair is trading at 1.0192, still 0.33% below its Friday's close.

    On the data front, US personal income rose 0.3% in December versus 0.2% expected, while personal spending remained flat in the same period, against a rise of 0.1% expedited. Meanwhile, the PCE deflator, Fed’s preferred gauge of inflation, advanced 0.6% over the year, matching forecasts while excluding food and energy, PCE rose 1.4% as expected.

    Next on tap, US ISM manufacturing PMI will be released at 15:00 GMT, although main attention remains on Friday’s Government’s nonfarm payrolls report.

    USD/CHF technical levels

    As for technical levels, USD/CHF could find next supports at 1.0175 (100-hour SMA), 1.0129 (10-day SMA) and 1.0110 (Jan 28 low). On the flip side, short-term resistances are seen at 1.0255/63 (Jan 29 high/(Dec 3 high), 1.0307 (Dec 2 high) and 1.0327 (Nov 27 high).
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