USD/CHF turns negative around 1.0050

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The Swiss franc has eroded its earlier losses vs. the greenback, dragging USD/CHF back to re-visit the vicinity of 1.0030.

    USD/CHF finds support near the 55-day sma

    The daily pullback from peaks near 1.0080 seems to have found some support in the 1.0030 neighbourhood, where currently sits the 55-day sma, all against a backdrop of increased demand for the safe have CHF.

    Previously, Swiss Producer and Import Prices have come in short of expectations during December, whereas the NAHB index and TIC Flows are due later in the US docket.

    USD/CHF significant levels

    The pair is now losing 0.02% at 1.0047 and a breakdown of 1.0024 (55-day sma) would open the door to 0.9993 (20-day sma) and finally 0.9889 (100-day sma). On the other hand, the immediate up barrier lines up at 1.0125 (38.2% Fibo of 1.0335-0.9784) followed by 1.0206 (23.6% Fibo of 1.0335-0.9784) and then 1.0335 (high Nov.26).
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