26 May 2015
USD/CHF eases-off monthly highs, back below 0.9500
FXStreet (Mumbai) - The US dollar prolongs its upward trajectory versus the Swiss franc, albeit retreated from one month peak during the mid-European session, with USD/CHF back below 0.95 handle, largely on the back of a broadly stronger US dollar driven by signs of US economic recovery gathering pace after upbeat US inflation print.
USD/CHF tracks USD higher
Currently, the USD/CHF pair trades 0.22% higher at 0.9475, retracing from fresh monthly highs reached at 0.9520. The pair trimmed gains as the traders resorted to profit-taking after the recent upsurge.
Earlier in the session, the USD/CHF pair rose to fresh one month highs beyond 0.95 barrier largely on broad USD strength. While tumbling euro across the board also pressured the Swiss franc, pushing USD/CHF higher.
Meanwhile, traders will watch today's durable goods orders later in the US session to confirm the latest dollar's strength. Figures are followed by Services PMI, consumer confidence and new home sales, so the day ahead is heavy on macro data from the US.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9520 levels and above which it could extend gains to 0.9578 levels. To the downside, immediate support might be located at 0.9450 levels and below that at 0.9400 levels.
USD/CHF tracks USD higher
Currently, the USD/CHF pair trades 0.22% higher at 0.9475, retracing from fresh monthly highs reached at 0.9520. The pair trimmed gains as the traders resorted to profit-taking after the recent upsurge.
Earlier in the session, the USD/CHF pair rose to fresh one month highs beyond 0.95 barrier largely on broad USD strength. While tumbling euro across the board also pressured the Swiss franc, pushing USD/CHF higher.
Meanwhile, traders will watch today's durable goods orders later in the US session to confirm the latest dollar's strength. Figures are followed by Services PMI, consumer confidence and new home sales, so the day ahead is heavy on macro data from the US.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9520 levels and above which it could extend gains to 0.9578 levels. To the downside, immediate support might be located at 0.9450 levels and below that at 0.9400 levels.