FXStreet (Edinburgh) – The greenback is trading almost unchanged vs. the Swiss franc at the beginning of the week, taking USD/CHF to the low-0.9600s so far.
USD/CHF attention to risk trends
The inactivity in US markets today will leave the pair to the mercy of the risk appetite trends, all against the backdrop of a generalized softer tone surrounding the dollar as market participants continue to push back expectations of a Fed’s lift-off.
In the meantime, a December’s rate hike by the Fed continues to lose traction in favour of January or March 2016, mainly after the unexpected dovish tone from the FOMC minutes seen last week.
USD/CHF levels to consider
At the moment the pair is gaining 0.01% at 0.9617 and a break above 0.9688 (55-day sma) would open the door to 0.9843 (monthly high Sep.23) and finally 0.9903 (high Aug.11). On the other hand, the initial support aligns at 0.9573 (200-day sma) ahead of 0.9527 (low Sep.18) and then 0.9500 (psychological level).
(Market News Provided by FXstreet)