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Forex pairs in this Article » USD/CHF
FXstreet.com (Athens)- USD/CHF continues to trade higher, as DXY hits an intraday high of 81.719, one-week peak.

U.S manufacturing activity rising to a five-month high this month.

Purchasing managers surveys showed better than expected growth in the euro zone, a Chinese manufacturing rebound and U.S manufacturing activity rising to a five-month high this month. All the above, boost ‘risk-appetite’, ease global growth fear among investors, i.e. removing traders from ‘safe-haven’ assets, like the ‘Swissie’. According to Gareth Berry, UBS analyst, ‘positioning for USD/CHF upside makes sense too given the pair's traditional sensitivity to the US yield curve.’ The most important release is new home sales in the US. The very strong existing home sales released earlier in the week suggest some upside and so far the higher mortgage rates do not appear to have weakened the US housing market substantially.

Technical outlook on USD/CHF

At the time of writing, the USD/CHF is trading at 0.9247, up 0.14% and close to its daily high of 0.9258. Danske Bank analyst suggest that ‘traders should place sell limit orders at 0.9279, with objective at 0.9175 and the stop-loss being at 0.9314’. The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 0.9107, 0.9085, 0.9062 and resistance at 0.9212, 0.9236 and 0.9259, respectively.
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