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27 Jan 2016
USD/CHF clings to gains near 1.0170
FXStreet (Edinburgh) - The greenback is marginally up vs. its Swiss peer on Wednesday, taking USD/CHF to the area of 1.0170/65 for the time being.
USD/CHF cautious ahead of FOMC
The pair is shedding some pips after hitting fresh weekly highs around 1.0180 on Tuesday, bolstered by a better tone in the risk-associated space and increasing outflows from the safe have CHF.
Ahead in the session, the FOMC meeting will grab all the attention, seconded by US New Home Sales and Mortgage Applications. It is worth mentioning that the Committee will only release its statement, and there will be no press conference by Chairwoman J.Yellen afterwards. Market bets are biased towards an ‘on hold’ stance by the Fed, favouring instead a rate hike at the March meeting.
USD/CHF significant levels
The pair is now up 0.01% at 1.0171 with the immediate hurdle at 1.0206 (23.6% Fibo of 1.0335-0.9784) ahead of 1.0260 (high Nov.26) and then 1.0335 (high Nov.26). On the flip side, a breach of 1.0056 (20-day sma) would aim for 0.9995 (61.8% Fibo of 1.0335-0.9784) and finally 0.9908 (100-day sma).
USD/CHF cautious ahead of FOMC
The pair is shedding some pips after hitting fresh weekly highs around 1.0180 on Tuesday, bolstered by a better tone in the risk-associated space and increasing outflows from the safe have CHF.
Ahead in the session, the FOMC meeting will grab all the attention, seconded by US New Home Sales and Mortgage Applications. It is worth mentioning that the Committee will only release its statement, and there will be no press conference by Chairwoman J.Yellen afterwards. Market bets are biased towards an ‘on hold’ stance by the Fed, favouring instead a rate hike at the March meeting.
USD/CHF significant levels
The pair is now up 0.01% at 1.0171 with the immediate hurdle at 1.0206 (23.6% Fibo of 1.0335-0.9784) ahead of 1.0260 (high Nov.26) and then 1.0335 (high Nov.26). On the flip side, a breach of 1.0056 (20-day sma) would aim for 0.9995 (61.8% Fibo of 1.0335-0.9784) and finally 0.9908 (100-day sma).