USD/CHF
climbed to 1-week highs during the NY session as the dollar
strengthened across the board following better-than-expected US data and
comments from Fed
Yellen, who reinforced bets of a rate hike in
December.
USD/CHF broke above European session highs and stretched to
0.9949, before finding resistance and settling in a range just below. The
advance of USD/CHF faltered just a few pips below its 7-month peak scored last
week at 0.9956. At time of writing, the pair is trading at 0.9935, still up
0.29% on the day.
Yellen reiterated December decision will be data
dependant turning all eyes to Friday’s US nonfarm
payrolls.
USD/CHF levels to consider
As for
technical levels, USD/CHF could find next resistances at 0.9956 (Oct 28 & 29
highs), 0.9982 (Mar 19 high) and then 1.0000 (psychological level). On the flip
side, short-term supports are seen at 0.9884 (Nov 4 low), 0.9842 (23.6% Fibo of
0.9475-0.9956) and 0.9819 (Oct 28 low).
