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Forex pairs in this Article » USD/CHF (Athens) – The USD/CHF is trading amidst a very congested area the last couple of hours of roughly 5 pips (0.9167-0.9172), but has managed to sustain itself above the 3-month resistance line at 0.9150 area.

USD/CHF eyes 0.9284 level (23.6% Fibonacci retracement) ahead of Swiss, US data

The USD/CHF is trading at a very narrow range the last couple of hours ahead a day of hefty US, Swiss data. Ahead, we will witness the release of Swiss unemployement rate, retail sales alongside with the US NFP, consumer data. Markets will probably focus on the NFP release as after yesterday’s upbeat US GDP growth, another solid figure on behalf of NFP data, would suggest that the Fed may lean back towards tapering as early as December.

Technical Aspects on the USD/CHF

It is noteworthy to say that the USD/CHF has managed to stay above the 3-month resistance line at 0.9150 area. Still, the cross seems to need to overcome the barrier as of the 0.9178 (October high), in order to move towards the 0.9284 area (23.60% Fibonacci retracement of the move upwards the 2011 low, which is located at 0.8863 zone). A solid NFP release would bring the EUR/USD under further pressure and taken for granted the immense inverse correlation of the EUR/USD, USD/CHF (roughly -0.93), it might pave the way for the cross to move further upwards.
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