he Dollar’s recovery from 0.9993 has found resistance at 1.0065. USD/CHF lost momentum in the last hour and fell from 1.0065 to test a support at 1.0040. If the pair falls below the Swiss Fran could gain momentum and approach to the parity level. Greenback has lost previous gains and currently trades at 1.0039/44, the same price it had at the begging of the day.
Michael J. Malpede, affirms: “CHF traded mixed Monday supported by broad USD weakness sparked by improving risk sentiment. The improvement in risk sentiment is attributed to report that the UAE central bank is standing behind local and foreign banks in Dubai. (…) The SNB was rumored to have sold CHF on November 26th as the CHF rose to parity versus the USD and a five month high versus the EUR. In addition, SNB's Roth indicated that central banks may need to end stimulus measure soon. His comments would likely undermine SNB intervention efforts.”
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