20 Feb 2015
USD/CHF retakes 0.9500, highest since SNB action
FXStreet (Mumbai) - USD/CHF rallied to fresh monthly highs in the early European morning, once again reaching 0.9500 levels as the US dollar continues ride higher against the Swiss franc on upbeat employment data released in the US last session.
USD/CHF posts fresh monthly highs
Currently, the USD/CHF traded flat at fresh session highs at 0.9500 levels, in another run to break past the 0.95 threshold. The pair remains underpinned as markets continue to cheer yesterday’s robust US employment data. Moreover, rumours that SNB may be continuing its intervention in forex markets are also expected keep the USD buoyed versus the Swiss currency.
Additionally, Greece debt concerns may also exert pressure on the Swiss franc, pushing the pair higher.
Meanwhile, USD/CHF extends its recovery mode after the revocation of a cap rate on EUR/CHF and general intraday uptrend persists until 0.9484 levels is breached as traders now eye Greece-Euro group meeting in the session ahead.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9550 levels and above which it could extend gains to 0.9580 levels. To the downside, immediate support might be located at 0.9480 levels and below that at 0.9400 levels.
USD/CHF posts fresh monthly highs
Currently, the USD/CHF traded flat at fresh session highs at 0.9500 levels, in another run to break past the 0.95 threshold. The pair remains underpinned as markets continue to cheer yesterday’s robust US employment data. Moreover, rumours that SNB may be continuing its intervention in forex markets are also expected keep the USD buoyed versus the Swiss currency.
Additionally, Greece debt concerns may also exert pressure on the Swiss franc, pushing the pair higher.
Meanwhile, USD/CHF extends its recovery mode after the revocation of a cap rate on EUR/CHF and general intraday uptrend persists until 0.9484 levels is breached as traders now eye Greece-Euro group meeting in the session ahead.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9550 levels and above which it could extend gains to 0.9580 levels. To the downside, immediate support might be located at 0.9480 levels and below that at 0.9400 levels.