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18 Dec 2015
USD/CHF ends week higher after FOMC rate hike
FXStreet (Córdoba) - The US dollar is about to end the week higher versus the Swiss franc after falling during the previous two. The decline of USD/CHF from multi-year highs was capped by the 20-week MA that stands at 0.9820.
From there the pair rebounded and is likely to finish the week above 0.9900. On Friday it moved in a modest range all day between 0.9975 and 0.9930.
USD/CHF to resume the upside?
After a bearish correction of more than 500 pips, the pair found support and turned to the upside. So far the recovery has been limited and started after a bounce that followed the historic decision of the Federal Reserve on Wednesday to raise rates for the first time since 2006.
USD/cHF is trading practically at the same level it had a year ago. It plummeted in January after the Swiss National Bank removed the EUR/CHF cap and then rebounded sharply. During November hit the strongest level since 2010 before the recent correction.
From there the pair rebounded and is likely to finish the week above 0.9900. On Friday it moved in a modest range all day between 0.9975 and 0.9930.
USD/CHF to resume the upside?
After a bearish correction of more than 500 pips, the pair found support and turned to the upside. So far the recovery has been limited and started after a bounce that followed the historic decision of the Federal Reserve on Wednesday to raise rates for the first time since 2006.
USD/cHF is trading practically at the same level it had a year ago. It plummeted in January after the Swiss National Bank removed the EUR/CHF cap and then rebounded sharply. During November hit the strongest level since 2010 before the recent correction.