USD/CHF Regains 0.9900 and Above
The greenback is extending its rally at the beginning of the week, now lifting USD/CHF to levels above the 0.9900 handle.
USD/CHF supported near 0.9880
The pair has managed to recover from overnight lows in the 0.9885/80
band following an initial weaker tone around USD as markets were
slightly biased towards the risk aversion.
However, USD regained buying interest into the European session, pushing
spot to daily tops near 0.9930, levels last seen in early March. The
greenback derived some support from comments by FOMC’s Williams, who
considered appropriate 2-3 rate hikes by the Fed during this year.
Data wise in the US, advanced Markit’s Manufacturing PMI has come in on
the softer side at 50.5 for the current month, missing estimates at
51.0.
USD/CHF key levels
The pair is now advancing 0.07% at 0.9909 facing the next up barrier at
0.9930 (high May 20) ahead of 1.0098 (high Mar.10) and then 1.0262 (high
Jan.29). On the other hand, a breach of 0.9836 (200-day sma) would
expose 0.9739 (20-day sma) and then 0.9659 (low May 12).
