3 Feb 2015
USD/CHF steadies ahead of US data
FXStreet (Mumbai) - The USD/CHF pair recovered losses and remains flat on the back of a weakening US dollar across the board and as markets now focus on the US data.
USD/CHF in search of fresh triggers
The pair extended its side trend in the European session as trades moderately lower at 0.9274 levels. The pair may remain subdued as traders await clear direction from the upcoming US factory orders data later in the US session. The dollar index, measuring the relative strength of the greenback versus six major currencies also trades lower by -0.11% on the day at 94.72.
Earlier in the day, the USD/CHF pair shrugged of Swiss trade balance and continued to consolidate above 0.9230 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 0.9204 (Feb 2 Low) levels.
USD/CHF in search of fresh triggers
The pair extended its side trend in the European session as trades moderately lower at 0.9274 levels. The pair may remain subdued as traders await clear direction from the upcoming US factory orders data later in the US session. The dollar index, measuring the relative strength of the greenback versus six major currencies also trades lower by -0.11% on the day at 94.72.
Earlier in the day, the USD/CHF pair shrugged of Swiss trade balance and continued to consolidate above 0.9230 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 0.9204 (Feb 2 Low) levels.