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2 Mar 2015
USD/CHF trades above 100-DMA
FXStreet (Mumbai) - The USD/CHF pair is trading slightly above the 100-DMA located at 0.9547, setting another post-SNB high today at 0.9552 levels.
Swiss Franc has been repeatedly hit by The rumors of Swiss National Bank intervention in the forex markets. On the other hand, hawkish comments from the Fed policymakers in the last week have supported gains in the US dollar. Consequently, the pair rose above the 100-DMA for the first time since the Swiss National Bank announced an end of its EUR/CHF peg on Jan. 15th.
USD/CHF Technical Levels
The pair is trading at a strong resistance at 0.9552 (Dec. 16 low), above which gains could be extended to 0.9617 levels. On the flip side, support is seen at 0.9530 and 0.95 levels.
Swiss Franc has been repeatedly hit by The rumors of Swiss National Bank intervention in the forex markets. On the other hand, hawkish comments from the Fed policymakers in the last week have supported gains in the US dollar. Consequently, the pair rose above the 100-DMA for the first time since the Swiss National Bank announced an end of its EUR/CHF peg on Jan. 15th.
USD/CHF Technical Levels
The pair is trading at a strong resistance at 0.9552 (Dec. 16 low), above which gains could be extended to 0.9617 levels. On the flip side, support is seen at 0.9530 and 0.95 levels.