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USD/CHF steady around 0.9660

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Swiss franc is practically unchanged against the US dollar after moving during all Thursday in a small range, in a session of limited price action moves.

    USD/CHF peaked during the Asian session at 0.9687, the strongest since March 29, then it pulled back. After the release of US CPI data dropped to 0.9636 but quickly rebounded rising again to the 0.9660 area.

    The pair is consolidating yesterday’s gains when it climbed more than a hundred pips, having the best performance in more than a month. Greenback is recovering after bottoming on Tuesday slightly below 0.9500, the lowest in 5-months. It rose above the 20-day moving average and today it managed to remain on top.

    USD/CHF technical levels

    To the upside, potential resistance levels might be seen at 0.9685/90 (daily high / March 22 low), 0.9720 (March 23 low) and 0.9765 (March 23 & 29 high). On the opposite direction, support could be located at 0.9635/40 (20-day moving average / daily low), 0.9580 (Apr 7 & 8 high) and 0.9545 (Apr 5 low).
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