4 Sep 2015
USD/CHF rises for the second week in a row
FXStreet (Córdoba) - The US dollar rose for the second week in a row against the Swiss franc and it moved toward August highs. USD/CHF is about to end trading around 0.9720/40, 120 pips above the level it had a week ago.
Greenback was among the top performers during the last five days while stocks dropped sharply. In the US, main stocks indexes are down more than 3.5% for the week and in Europe lost around 2%. Risk aversion failed to boost the Swiss franc, that used to be the top performers in times of risk aversion.
USD/CHF levels to watch
During August the pair avoided a weekly close under 0.9450 where the 20-SMA is located; that area continues to be a key short term support. A close below could open the doors for a bearish run, targeting 0.9280.
To the upside, a downtrend line, originated at January highs stands at 0.9840: if the US dollar manages to break higher, it could gain support to extend the rally toward the parity level.
Greenback was among the top performers during the last five days while stocks dropped sharply. In the US, main stocks indexes are down more than 3.5% for the week and in Europe lost around 2%. Risk aversion failed to boost the Swiss franc, that used to be the top performers in times of risk aversion.
USD/CHF levels to watch
During August the pair avoided a weekly close under 0.9450 where the 20-SMA is located; that area continues to be a key short term support. A close below could open the doors for a bearish run, targeting 0.9280.
To the upside, a downtrend line, originated at January highs stands at 0.9840: if the US dollar manages to break higher, it could gain support to extend the rally toward the parity level.