USD/CHF Retakes 0.9600 and Above

USD/CHF Retakes 0.9600 and Above

5 May 2016, 11:59
Roberto Jacobs

USD/CHF Retakes 0.9600 and Above

The greenback is extending its march north today, now pushing USD/CHF to fresh tops above the 0.9600 handle.

USD/CHF rebounds from 0.9440

Spot is prolonging its weekly rebound from recent multi-month lows in the 0.9440 area recorded on Tuesday, levels last seen in August 2015, following a better bid tone surrounding the US dollar.

Data wise today, US Initial Claims and the speech by St. Louis Fed J.Bullard will take centre stage today ahead of tomorrow’s release of April’s Payrolls.

USD/CHF key levels

The pair is now advancing 0.43% at 0.9617 facing the next up barrier at of 0.9645 (20-day sma) followed by 0.9744 (55-day sma) and finally 0.9791 (high Mar.25). On the other hand, a breach of 0.9441 (2016 high May 3) would aim for 0.9419 (monthly low Jul.9 2015) and then 0.9251 (monthly low Aug.24 2015).


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