USD/CHF slumps to 1.0130, focus on FOMC

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 27, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback is now losing ground across the board, dragging USD/CHF to fresh daily lows in the 1.0130 area.

    USD/CHF weaker on USD-selling

    The pair has lost upside momentum after reaching session peaks in the vicinity of 1.0180, quickly deflating to current levels in response to a sudden wave of selling interest hitting the greenback.

    Spot will remain under pressure in light of today’s US docket, with December’s New Home Sales (500K exp.) followed by the more significant FOMC meeting.

    USD/CHF significant levels

    The pair is now dropping 0.26% at 1.0143 and a breach of 1.0056 (20-day sma) would aim for 0.9995 (61.8% Fibo of 1.0335-0.9784) and finally 0.9908 (100-day sma). On the flip side, the next resistance lines up at 1.0206 (23.6% Fibo of 1.0335-0.9784) ahead of 1.0260 (high Nov.26) and then 1.0335 (high Nov.26).

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