5 Dec 2014
USD/CHF trades above 0.97, as dollar approaches multi-year highs
FXStreet (Mumbai) - The USD/CHF pair trades in a narrow range today locked between 0.97 – 0.9730 levels, as investors shift their attention to a key US non-farm payrolls data later in the day.
At time of writing, the pair trades at 0.9724, nearing the day’s high of 0.9729 levels. The Swiss franc weakened against the US dollar on expectations of an upbeat non-farm payroll report in the US may boost the currency across the board. The dollar index, a measure of the greenback’s strength against a basket of six currencies, is trading at day’s high at 88.84.
The Swiss franc strengthened yesterday and traded below 0.97 levels as no stimulus was announced by the ECB.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9733 (Nov 24 High) and above which it could extend gains to 0.9785 (Dec 3 High) levels. To the downside immediate support might be located at 0.9696 (Nov 23 Low) and below that at 0.9649 (Nov 7 Low).
At time of writing, the pair trades at 0.9724, nearing the day’s high of 0.9729 levels. The Swiss franc weakened against the US dollar on expectations of an upbeat non-farm payroll report in the US may boost the currency across the board. The dollar index, a measure of the greenback’s strength against a basket of six currencies, is trading at day’s high at 88.84.
The Swiss franc strengthened yesterday and traded below 0.97 levels as no stimulus was announced by the ECB.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9733 (Nov 24 High) and above which it could extend gains to 0.9785 (Dec 3 High) levels. To the downside immediate support might be located at 0.9696 (Nov 23 Low) and below that at 0.9649 (Nov 7 Low).