19 Feb 2015
USDCHF jumped higher by 50 pips
FXStreet (Mumbai) - The USD/CHF pair recovered from the low of 0.9378 to hit a high of 0.9439, falling just short of its 50-DMA located at 0.9441 levels as rumors of NSB intervention started doing the rounds on the wires.
Swiss pairs inch higher
The CHF has weakened across the board, taking the USD/CHF pair higher by 50 odd pips, while the GBP/CHF pair has inched higher by 70 pips. Meanwhile, the EUR/CHF pair moved higher by 25 odd pips. The Swiss Franc came under pressure on rumors of intervention from the Swiss National Bank (SNB). However, no official confirmation has been communicated to the markets so far. Moreover, the rumors are likely to do the rounds after SNB President expressed concerns regarding the overvalued Franc earlier this week.
USD/CHF Technical Levels
The immediate support is seen at 0.9360 (5-DMA) and 0.9319 (10-DMA) levels. On the flip side, resistance is seen at 0.9440 (50-DMA) and 0.9500 levels.
Swiss pairs inch higher
The CHF has weakened across the board, taking the USD/CHF pair higher by 50 odd pips, while the GBP/CHF pair has inched higher by 70 pips. Meanwhile, the EUR/CHF pair moved higher by 25 odd pips. The Swiss Franc came under pressure on rumors of intervention from the Swiss National Bank (SNB). However, no official confirmation has been communicated to the markets so far. Moreover, the rumors are likely to do the rounds after SNB President expressed concerns regarding the overvalued Franc earlier this week.
USD/CHF Technical Levels
The immediate support is seen at 0.9360 (5-DMA) and 0.9319 (10-DMA) levels. On the flip side, resistance is seen at 0.9440 (50-DMA) and 0.9500 levels.