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23 Feb 2015
USD/CHF: Franc dives above 1% on renewed selling
FXStreet (Mumbai) - USD/CHF extended its upward trajectory and rallied more than 1% as renewed selling hit the Swiss currency during the European morning, pushing the pair closer to 0.9500 levels.
USD/CHF rises from 0.9431 levels
Currently, the USD/CHF traded 0.96% higher at 0.9473 levels, retreating from fresh session highs posted at 0.9485 levels some time ago. The pair extended gains as Europe open triggered a fresh round of CHF selling with traders locking-in gains on their short positions after Friday’s USD/CHF weakness. Moreover, a solid recovery in the US dollar across the board further added to the upside in the USD/CHF pair.
Meanwhile, USD/CHF extends its recovery mode after the revocation of a cap rate on EUR/CHF and general intraday uptrend persists until 0.9404 (200-DMA) levels is breached ahead of US housing data due later in the day.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9500 levels and above which it could extend gains to 0.9537 levels. To the downside, immediate support might be located at 0.9404 (200-DMA) levels and below that at 0.9385 (10-DMA) levels.
USD/CHF rises from 0.9431 levels
Currently, the USD/CHF traded 0.96% higher at 0.9473 levels, retreating from fresh session highs posted at 0.9485 levels some time ago. The pair extended gains as Europe open triggered a fresh round of CHF selling with traders locking-in gains on their short positions after Friday’s USD/CHF weakness. Moreover, a solid recovery in the US dollar across the board further added to the upside in the USD/CHF pair.
Meanwhile, USD/CHF extends its recovery mode after the revocation of a cap rate on EUR/CHF and general intraday uptrend persists until 0.9404 (200-DMA) levels is breached ahead of US housing data due later in the day.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9500 levels and above which it could extend gains to 0.9537 levels. To the downside, immediate support might be located at 0.9404 (200-DMA) levels and below that at 0.9385 (10-DMA) levels.