USD/CHF weaker, bounces off 0.9920

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Swiss franc is trading on a firmer footing vs. its American peer on Tuesday, with USD/CHF coming down to test lows near 0.9920.

    USD/CHF lower on risk-off trade

    The resurgence of the risk-off trade has benefited the Swiss franc today, prompting the pair to leave daily highs just above the parity level to test the lower bound of the range in the 0.9920 area.

    Ahead in the session, SNB’s T.Jordan will give a speech, while US Exiating Home Sales, S&P/Case-Shiller index and Consumer Confidence are all due in the US docket.

    USD/CHF key levels

    The pair is now losing 0.41% at 0.9946 and a break below 0.9889 (38.2% Fibo of YTD down move) would open the door to 0.9755 (100-day sma) and then 0.9658 (low Feb.11). On the other hand, the next hurdle lines up at 1.0009 (high Feb.22) followed by 1.0120 (76.4% Fibo of YTD down move) and then 1.0262 (high Jan.21).
    For more information, read our latest forex news.

Share This Page

free forex signals