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USD/CHF weaker, challenges 0.9900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The Swiss franc is picking up pace vs. the dollar on Wednesday, now dragging USD/CHF to the 0.9900 neighbourhood.

    USD/CHF supported around 0.9890

    After bottoming out in the 0.9890 area during the Asian trading hours, the pair has managed to gather some traction and regain the vicinity of the critical 0.9900 handle, all amidst a stronger CHF (via EUR/CHF selling).

    However, the pair remains in the upper end of the recent range around 0.9900 the figure, surrendering part of last week’s spike towards the 0.9960 region.

    USD/CHF key levels

    At the moment the pair is losing 0.10% at 0.9896 with the next support at 0.9846 (23.6% Fibo of 0.9473-0.9961) followed by 0.9775 (38.2% Fibo of 0.9473-0.9961) and finally 0.9707 (55-day sma). On the other hand, a breakout of 0.9951 (downtrend from 2015 high) would aim for 0.9961(high Oct.28) and then 1.0131 (monthly high Mar.12).
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