USD/CHF Climbs to Highs Around 0.9580

USD/CHF Climbs to Highs Around 0.9580

8 April 2016, 13:19
Roberto Jacobs
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USD/CHF Climbs to Highs Around 0.9580

The risk-on sentiment keeps CHF-bulls at bay today, pushing USD/CHF to visit session tops in the 0.9580 area.

USD/CHF supported near 0.9500

The pair is extending its advance to the vicinity of the key barrier at the 0.9600 handle, after the resurgence of the risk aversion has prompted the Swiss franc to trade in multi-month highs vs. the dollar near 0.9520 earlier in the week.

Data wise in Switzerland, inflation figures for the month of March have matched expectations, with consumer prices contracting 0.9% MoM and rising 0.3% on an annualized basis. In the US docket, the only event will be the speech by NY Fed’s W.Dudley.

USD/CHF key levels

The pair is now advancing 0.19% at 0.9577 facing the next resistance at 0.9685 (20-day sma) followed by 0.9791 (high Mar.25) and finally 0.9826 (200-day sma). On the other hand, a breakdown of 0.9518 (2016 low Apr.7) would aim for 0.9500 (psychological level) and then 0.9473 (monthly low Oct.15 2015).


(Market News Provided by FXstreet)

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