USD CHF trading News 1
10/14/2016 10:09:23 AM
USD/CHF pair continued with its near-term bullish momentum and is now heading back towards 0.9900 handle.
Currently trading around 0.9890 area, the pair caught fresh bids around 0.9850 support area and has now removed main part of Thursday's corrective slide from 21/Feb high level above 0.9900 handle.
The pair is also profiting from increasing views of an imminent Fed rate-hike action by the end of this year, which continues to drive the dollar higher and the overall USD Index inching back closer to seven-month high touched on Wednesday.
Immediate upside hurdle lefts around 0.9900 handle, which if cleared resolutely is likely to improve the pair immediately towards July swing high persistence near 0.9955 region before trying a move towards parity mark.
On the downside, 0.9850 now looks to have arisen as immediate support below which the corrective move could get expanded towards 0.9815 horizontal support en-route 200-day SMA support near 0.9790 region.