USD/CHF remains confined below 1.0100

Dhwani Mehta FXStreet

The USD/CHF pair moved-off mutli-month highs, although remains in close vicinity of 1.01 handle as the greenback continues to rule the roost amid increased hopes of a Dec Fed rate hike.

USD/CHF holds above daily pivot

Currently, the USD/CHF pair trades +0.13% higher at 1.0084, unable to regain 1.01 handle. The bulls continue to guard 1.01 barrier, restricted any bullish attempt in USD/CHF back above the last, as the greenback extends its consolidative trend into early Europe, awaiting fresh incentives from the European session.

However, the retreat in the major remains restricted amid a risk-friendly market environment, which curbs the demand for safe-haven Swiss franc, keeping the sentiment around USD/CHF buoyed.

The immediate focus now remains on Swiss National Bank (SNB) governing board member Andrea Maechler’s comments due later in the European session, while a few of the Fed speeches will be also eyed for further USD moves.

USD/CHF Technical Levels

To the upside, the next resistance is located at 1.0105 (multi-month high) and above which it could extend gains to 1.0142 (daily R2) and 1.0200 (zero figure) next. To the downside, immediate support might be located at 1.0048/34 (daily pivot/ 5-DMA) and below that 1.0000 (parity) and from there to 0.9945 (10-DMA).

To learn more about this topic, check our video analysis

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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