Tuesday, September 15, 2015

USD/CHF: Bulls struggle to end four day losing streak

FXStreet (Mumbai) - The USD bulls are fighting hard ahead of the European session to end its four day losing streak. The USD/CHF pair currently hovers around 0.9680 levels; largely unchanged on the day.

Focus on European stocks US data

The currency pair is likely to track the movement in the European stock markets ahead of the US advance retail sales release. The Asian markets are trading lower and that could lead to a negative opening for the European stocks.

The US advance retail sales for August is seen rising 0.3%, compared to a 0.6% rise in July. The data would be followed by monthly industrial production and regional manufacturing index figures.

USD/CHF Technical Levels

The immediate resistance is seen at 0.9730 (5-DMA), above which the spot could test 0.9823 (Sep 9 high). On the other side, support is seen at 0.9646 (50-DMA) and 0.9600 levels.
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