Friday, November 13, 2015

USD/CHF shrugs off data, climbs to fresh daily highs

FXStreet (Córdoba) - The dollar managed to shrug off disappointing US retail sales and PPI, with USD/CHF climbing to fresh daily highs following a short-lived pullback.

USD/CHF briefly moved below the parity level, only to quickly bounce, having climbed toward a high of 1.0073 in recent dealings. At time of writing, the pair is trading at 1.0050, still 0.52% up on the day.

Even though retail sales and PPI came in below expectations, data will likely take a backseat after last week's strong NFP report.

USD/CHF technical levels

As for technical levels, next resistances are seen at 1.0089 (Mar 12 high), 1.0126 (Mar 12 high) followed by 1.0239, which is the 2015 high scored on Jan 14 pre-SNB shocker. On the other hand, supports could be faced at 0.9989 (Nov 12 low), 0.9943/41 (Nov 6 low/23.6% Fibo of 0.9475-1.0085) and 0.9920 (Nov 5 low).
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