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23 Feb 2016
USD/CHF weaker, bounces off 0.9920
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).
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).