USD CHF held up its recent decline
11/7/2016 11:11:14 AM
The USD held up its recent decline and recoiled sharply against CHF on Monday, sending USD/CHF as high as 0.9775 before receding gains to now trade around the mid-point of 0.9700 handle.
Currently, the USD/CHF pair increases +0.77% to 0.9757, having jumped-off 5-DMA support at 0.9730, daily lows. The USD/CHF pair proceeded lows and now tries another run towards daily highs among developed market sentiment spurred by Clinton’s clearances from the emails case by the FBI, which sent treasury yields through the roof and fuelled a wide rally in the USD across the board. In the meantime, the USD index now jumps +0.54% to trade around 0.9750 levels.
To the upside, the next persistence is placed at 0.9780 and above which it could expand gains to 0.9800 and 0.9850 next. To the downside, immediate support might be placed at 0.9730 and below that 0.9690 and from there to 0.9636.
Fundamental Analysis
by FxErvin
