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USD/CHF steady around 1.0190

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - The Swiss franc rose against the US dollar after the beginning of the American session but if failed to break higher and currently is trading at the same level it closed yesterday.

    USD/CHF supported by 1.0160/70

    The pair bottomed hours ago at 1.0169 and then bounced back toward 1.0200 but it was standing around 1.0185/90. The area around 1.0160/70 is becoming a relevant short-term support area.

    To the upside, USD/CHF is likely to face resistance between 1.0200 and 1.0195 (20-hour moving average) and above here at 1.0225 (daily high) and 1.0255 (Jan 29 high).

    Data ahead

    In the US, the key report tomorrow will be the ADP private employment report but traders attention focus on Friday’s NFP. The labor market numbers could impact the US dollar and also on risk appetite.

    In Switzerland, a relevant data will be released on Friday with the reserves of the Swiss National Bank (SNB) that could give clues if the SNB intervened in the markets or not.
    For more information, read our latest forex news.
     

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