USD/CHF Firmer, Advances Beyond 0.9600
The greenback is extending its upside momentum today, taking USD/CHF to the area of session highs in the 0.9600 neighbourhood.
USD/CHF up on risk-appetite
Positive
results from the Chinese Services PMI during March have ignited a
better tone in the risk-associated space today, prompting the pair to
regain the upside after bottoming out in the mid-0.9500s on Tuesday.
Absent
releases in the Swiss economy today, all the attention will be on the
FOMC minutes due in the European evening, with market consensus pointing
to a mixed tone from the Committee.
USD/CHF key levels
The
pair is now advancing 0.47% at 0.9607 facing the next resistance at
0.9715 (20-day sma) followed by 0.9791 (high Mar.25) and finally 0.9824
(200-day sma). On the other hand, a breakdown of 0.9547 (2016 low Apr.1)
would aim for 0.9523 (monthly low Sep.18 2015) and then 0.9473 (monthly
low Oct.15 2015).
(Market News Provided by FXstreet)
