USD/CHF hits weekly highs near 1.0000

US dollar up across the board, rises after US data.
USD/CHF gains for the fourth day in-a-row approaches 1.0000.

Matías Salord FXStreet

The USD/CHF pair continues to rise from 2-month lows and today reached 0.9982, the highest level in a week. It peaked after the release of the upbeat US retail sales report. Previously the pair was already higher, supported by risk aversion, a stronger US dollar and EZ PMI data.

The US Dollar Index (DXY) climbed from 97.10 to 97.68, a fresh 18-month high. It pulled back modestly from the top during the US session. Also, USD/CHF moved off highs. As of writing, trades at 0.9965, up 30 pips for the day and a hundred pips above Tuesday’s low.

Earlier today, Eurozone PMI data showed a significant slowdown in both the manufacturing and the services sector and boosted the pair. Regarding the US, November retail sales rose 0.2% in line with expectations but upward revisions to October's data and gains in the control group, completed an upbeat report. Also, US industrial production printed better-than-expected data. Those numbers were offset by PMI’s that slowdown more than estimates.

USD/CHF Levels to watch

The immediate support now is the 20-day moving average at 0.9950, followed by 0.9910 (Dec 12 & 13 low) and 0.9880. On the upside, resistance levels could be located at 0.9980/85 (Dec 14 high), 1.0005/10 (Dec highs) and 1.0045.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.