6 Jan 2016
USD/CHF off highs, back below 1.0100
FXStreet (Edinburgh) - The upside momentum of the greenback remains intact vs. its Swiss peer, with USD/CHF hovering over 1.0090 after surpassing 1.010 in earlier in the session.
USD/CHF focus on ADP
The pair has been advancing since Monday backed by a solid resurgence of the demand for the US dollar and the global context tilted to the risk aversion. Absent significant releases in Switzerland, the pair’s price action will mostly hinge on the USD, as the ADP Employment report, Trade Balance and Factory Orders are due later in the NA session.
In addition, the FOMC minutes will release its minutes of the December meeting, where the Committee has decided to hike rates by 25 bp after almost a decade of exceptionally low rates.
USD/CHF key levels
As of writing the pair is up 0.06% at 1.0095 facing the next up barrier at 1.0131 (high Jan.5) followed by 1.0335 (high Nov.27) and finally 1.0400 (psychological level). On the other hand, a breach of 0.9996 (55-day sma) would expose 0.9819 (5-month uptrend) and then 0.9666 (200-day sma).
USD/CHF focus on ADP
The pair has been advancing since Monday backed by a solid resurgence of the demand for the US dollar and the global context tilted to the risk aversion. Absent significant releases in Switzerland, the pair’s price action will mostly hinge on the USD, as the ADP Employment report, Trade Balance and Factory Orders are due later in the NA session.
In addition, the FOMC minutes will release its minutes of the December meeting, where the Committee has decided to hike rates by 25 bp after almost a decade of exceptionally low rates.
USD/CHF key levels
As of writing the pair is up 0.06% at 1.0095 facing the next up barrier at 1.0131 (high Jan.5) followed by 1.0335 (high Nov.27) and finally 1.0400 (psychological level). On the other hand, a breach of 0.9996 (55-day sma) would expose 0.9819 (5-month uptrend) and then 0.9666 (200-day sma).