USD/CHF Climbs to 0.9570, Session Highs

USD/CHF Climbs to 0.9570, Session Highs

11 April 2016, 12:08
Roberto Jacobs

USD/CHF Climbs to 0.9570, Session Highs

A mild bias towards the risk-on sentiment is now pushing USD/CHF to test the area of daily peaks near 0.9570.

USD/CHF focus on Fed meeting

After bottoming out in fresh YTD lows in the 0.9500 neighbourhood, spot has managed to gather traction and revert the initial downside along with some sort of pick up in the risk appetite trends.

Ahead in the session, the greenback will take centre stage in light of the Fed’s close meeting in order to discuss US rates prospects.

USD/CHF key levels

The pair is now advancing 0.33% at 0.9568 facing the next resistance at 0.9651 (20-day sma) followed by 0.9791 (high Mar.25) and finally 0.9827 (200-day sma). On the other hand, a breakdown of 0.9516 (2016 low Apr.11) 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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