USD/CHF Edges Higher, 0.9780 on Sight

USD/CHF Edges Higher, 0.9780 on Sight

22 April 2016, 12:53
Roberto Jacobs
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USD/CHF Edges Higher, 0.9780 on Sight

The upside momentum in the greenback is helping USD/CHF to regain the 0.9780 area, or multi-day highs.

USD/CHF well supported around 0.9500

It seems spot has regained the upside bias after bottoming out in the 0.9500 neighbourhood in mid-April, bolstered by a resurgence of the risk-appetite trends and a recently better tone around the greenback.

Data wise in Switzerland, ZEW Expectations have surpassed expectations while the trade surplus has narrowed during March. Later in the NA session, advanced Markit’s manufacturing PMI is expected in the US docket.

USD/CHF key levels

The pair is now advancing 0.17% at 0.9768 facing the next up barrier at of 0.9791 (high Mar.25) followed by 0.9834 (200-day sma) and finally 0.9875 (100-day sma). On the other hand, a breach of 0.9581 (low Apr.19) would aim for 0.9495 (2016 low Apr.12) and then 0.9473 (monthly low Oct.15 2015).


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