USD/CHF supported around 1.0000

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The area around parity has been supporting USD/CHF so far, allowing the current rebound to the 1.0020/25 band.

    USD/CHF pares losses

    Spot is recovering part of yesterday’s sharp pullback in response to a re-emergence of the selling bias around the dollar, briefly testing the 0.9985/80 band. However, today’s initial risk aversion sentiment in the global markets has given USD further strength, lifting the pair back above parity.

    On the data front, US Retail Sales and Producer Prices are due later, followed by the Reuters/Michigan index and the speech by Cleveland Fed L.Mester. In the Alpine economy, Producer and Import Prices are also due.

    USD/CHF significant levels

    As of writing the pair is up 0.15% at 1.0024 with the next hurdle at 1.0093 (high Nov.12) followed by 1.1000 (psychological level) and then 1.0131 (high Mar.12). On the other hand, a break below 0.9945 (downtrend from 1.0131 prev. resistance now support) would expose 0.9831 (low Nov.2) and finally 0.9758 (55-day sma).
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