9 May 2014
USD/CHF at 1-month highs above 0.8850
FXStreet (Córdoba) - The USD/CHF recently rose to 0.8863 reaching the highest price since April 8 and extended weekly gains and currently is holding above 0.8850. The US dollar is rising further against European currencies after Wall Street opening, while the Swiss Franc is among the worst performers across the board.
USD/CHF best week since March
The pair is about the end the week with a gain of a hundred pips, the best weekly result since March. All gains were achieved after Draghi’s press conference on Thursday that boosted the US dollar versus the Euro and the Swissy.
On Thursday the pair approached 2014 lows but then bounced sharply to the upside. Despite the gains the weekly chart still looks bearish but price has approached a downtrend line originated 10 months ago.
USD/CHF best week since March
The pair is about the end the week with a gain of a hundred pips, the best weekly result since March. All gains were achieved after Draghi’s press conference on Thursday that boosted the US dollar versus the Euro and the Swissy.
On Thursday the pair approached 2014 lows but then bounced sharply to the upside. Despite the gains the weekly chart still looks bearish but price has approached a downtrend line originated 10 months ago.