USD CHF making progress
10/21/2016 12:42:10 PM
The USD/CHF pair is seen building onto yesterday’s gains and floats near 3 month tops, as the USD bulls stay in control as we improve towards the European opening bells.
Currently, the USD/CHF pair trades +0.19% higher near fresh 3 month highs of 0.9955, making progresses towards parity. The USD stays strongly bid against its major competitors, in response to ECB induced weakness in the EUR/USD pair. In the meantime, the USD index trades +0.10% higher at 98.38, withdrawing slightly from 7 month highs.
To the upside, the next persistence is set at 0.9955 and above which it could expand gains to 0.9974 and 1.0000 next. To the downside, immediate support might be set at 0.9909/01 and below that 0.9867 and from there to 0.9828.