USD/CHF better bid just ahead of 0.99 handle post-Swiss data

Dhwani Mehta FXStreet

The CHF bulls are left unimpressed by above estimates Swiss trade data, keeping USD/CHF on the bids just ahead of 0.9900 levels.

USD/CHF eyes ECB, US data

Currently, the USD/CHF pair trades +0.17% higher near fresh session highs of 0.9905, trying hard to resist above 0.99 handle. The USD/CHF pair remains well bid and attempts to extend gains above 0.99 barrier as sentiment towards the US dollar remains underpinned after Clinton won the third and final US presidential election. Meanwhile, the USD index trades +0.20% higher at 98.06, extending its advance from 97.85 region.

While the Swiss franc remained largely unperturbed by upbeat Swiss trade data and continues to extend lower versus its American counterpart heading into the ECB policy decision, which will be followed by US dataflow.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9921 (multi-month highs) and above which it could extend gains to 0.9955 (Jul 27 high) and 1.0000 (parity) next. To the downside, immediate support might be located at 0.9887 (10-DMA) and below that 0.9815 (20-DMA) and from there to 0.9773/60 (100 & 200-DMA).

	TREND INDEX	OB/OS INDEX	VOLATILY INDEX
15M	Bullish	Overbought	Expanding
1H	Bullish	Neutral	Expanding
4H	Bullish	Neutral	Low
1D	Bearish	Neutral	Expanding
1W	Bullish	Neutral	Low
Updated Oct 19, 05:30 GMT

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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