3 Feb 2015
USD/CHF unmoved by Swiss trade balance data
FXStreet (Mumbai) - The USD/CHF pair continues to trade largely unchanged after Switzerland reported a decline in the trade surplus in December.
Doji candle on the daily chart
So far the pair has formed a small Doji candle on the daily charts, indicating indecisiveness in the markets after a sharp rise from 0.85 levels seen in mid-January to the current level of 0.9269. The sharp recovery was triggered by rumors of the Swiss National Bank adopting unofficial EUR/CHF targets.
The official data released today showed the December Swiss trade surplus at CHF 1.52 billion, which is lower than the expected EUR 2.1 billion. So far the pair has shrugged-off the data to trade largely unchanged for the day at 0.9269 levels.
USD/CHF Technical Levels
The immediate resistance is seen at 0.9281, above which the pair could test 200-DMA located at 0.9368. Meanwhile, support is seen at 0.9229 (5-DMA) and 0.9160 (Jan. 27 high) levels.
Doji candle on the daily chart
So far the pair has formed a small Doji candle on the daily charts, indicating indecisiveness in the markets after a sharp rise from 0.85 levels seen in mid-January to the current level of 0.9269. The sharp recovery was triggered by rumors of the Swiss National Bank adopting unofficial EUR/CHF targets.
The official data released today showed the December Swiss trade surplus at CHF 1.52 billion, which is lower than the expected EUR 2.1 billion. So far the pair has shrugged-off the data to trade largely unchanged for the day at 0.9269 levels.
USD/CHF Technical Levels
The immediate resistance is seen at 0.9281, above which the pair could test 200-DMA located at 0.9368. Meanwhile, support is seen at 0.9229 (5-DMA) and 0.9160 (Jan. 27 high) levels.