USD/CHF upside halted ahead of 0.9900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The positive performance of the greenback today is allowing USD/CHF to climb to the vicinity of 0.9900 the figure, or session peaks.

    USD/CHF in 2-day tops

    The pair is advancing for the second consecutive session bolstered by a continuation of the buying interest around the US dollar, although a visit and a surpass of the 0.9900 barrier still remains elusive, capping gains for the time being.

    Ahead in the session, Retail Sales will take centre stage in the US economy, seconded by the Empire State anufacturing index and the NAHB index. In Switzerland, the SNB will hold its monetary policy meeting on Thursday, with consensus signalling a steady stance and a repetition of the usual rhetoric by the central bank.

    USD/CHF key levels

    The pair is now up 0.10% at 0.9883 facing the next up barrier at 1.0098 (high Mar.10) ahead of 1.0120 (76.4% Fibo of 1.0262-0.9658) and finally 1.0262 (2016 high Jan.29). On the other hand, a break below 0.9804 (post-ECB low Mar.10) would open the door to 0.9801 (23.6% Fibo of 1.0262-0.9658) and then 0.9794 (200-day sma).
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