8 May 2015
USD/CHF extends beyond 0.9200
FXStreet (Mumbai) - USD/CHF tested 0.92 handle and rebounded sharply in the European morning, largely as the US dollar regained upside momentum versus its major competitors, while markets shrugged off improvement in Swiss labour market reflected by falling jobless rate.
USD/CHF rises from 0.9209
Currently, the USD/CHF trades 0.27% higher at 0.9242, heading towards fresh session highs reached at 1.9252. The pair erased losses and edged higher on a renewed USD buying witnessed this session with the DXY rising higher to tune of 0.26% and trades at 95 mark.
Meanwhile, traders completely ignored upbeat Swiss employment data which showed that the jobless rate dropped to 3.3% m/m, improving from 3.4% seen in March, coming in line with expectations.
Markets now await US payrolls data due later in the day to gauge further direction on USD/CHF.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9280 levels and above which it could extend gains to 0.9350 levels. To the downside, immediate support might be located at 0.9200 levels and below that at 0.9163 levels.
USD/CHF rises from 0.9209
Currently, the USD/CHF trades 0.27% higher at 0.9242, heading towards fresh session highs reached at 1.9252. The pair erased losses and edged higher on a renewed USD buying witnessed this session with the DXY rising higher to tune of 0.26% and trades at 95 mark.
Meanwhile, traders completely ignored upbeat Swiss employment data which showed that the jobless rate dropped to 3.3% m/m, improving from 3.4% seen in March, coming in line with expectations.
Markets now await US payrolls data due later in the day to gauge further direction on USD/CHF.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9280 levels and above which it could extend gains to 0.9350 levels. To the downside, immediate support might be located at 0.9200 levels and below that at 0.9163 levels.