29 Apr 2015
USD/CHF eyes 0.96
FXStreet (Mumbai) - USD/CHF extends its upward trajectory for the third straight session in the European morning, heading towards 0.96 barrier, despite the recent weakness in the greenback across the board largely on the back of technical buying as the pair finds good support around 0.9480-0.9500 zone.
USD/CHF supported above 0.9550
Currently, the USD/CHF trades higher by 0.14% at 0.9569, hovering close to fresh session highs posted at 0.9572 some minutes ago. The pair remains elevated as the US dollar recovered previous losses and steadies above 96 against its major competitors.
Moreover, with every dip near 0.95 handle, a fresh demand for USD is seen driven by technical buying which also pushes USD/CHF higher. However, further upside momentum in the pair may be seen only above a sustained break of 0.96 barrier on daily closing.
Meanwhile, markets now await FOMC statement and US GDP figures for further US dollar moves which may have major impact on USD/CHF.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9600 levels and above which it could extend gains to 0.9617 levels. To the downside, immediate support might be located at 0.9550 levels and below that at 0.9500 levels.
USD/CHF supported above 0.9550
Currently, the USD/CHF trades higher by 0.14% at 0.9569, hovering close to fresh session highs posted at 0.9572 some minutes ago. The pair remains elevated as the US dollar recovered previous losses and steadies above 96 against its major competitors.
Moreover, with every dip near 0.95 handle, a fresh demand for USD is seen driven by technical buying which also pushes USD/CHF higher. However, further upside momentum in the pair may be seen only above a sustained break of 0.96 barrier on daily closing.
Meanwhile, markets now await FOMC statement and US GDP figures for further US dollar moves which may have major impact on USD/CHF.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9600 levels and above which it could extend gains to 0.9617 levels. To the downside, immediate support might be located at 0.9550 levels and below that at 0.9500 levels.