22 Dec 2014
USD/CHF falls after a three-day rally
FXStreet (Mumbai) - The Swiss franc has strengthened after three-straight days of losses against he Greenback, taking the USD/CHF pair below the previous cyclical high of 0.9819 hit on Dec.8.
The USD/CHF pair now trades 0.28% lower at 0.9812 levels. The Swiss franc depreciated almost 2.66% in the last three sessions against the US dollar, mainly on account of Swiss National Bank’s surprise decision to push the interest rate into the negative territory. The pair has weakened today, as the Greenback is posting losses across the board at the onset of the European session. Moreover, the US treasury yields are showing signs of weakness, thereby reducing the dollar’s appeal.
USD/CHF Technical Levels
The pair has an immediate support located at 0.9785, under which a strong support is seen at 0.9742 levels. Meanwhile, resistance is seen at 0.9819 and 0.9848 levels.
The USD/CHF pair now trades 0.28% lower at 0.9812 levels. The Swiss franc depreciated almost 2.66% in the last three sessions against the US dollar, mainly on account of Swiss National Bank’s surprise decision to push the interest rate into the negative territory. The pair has weakened today, as the Greenback is posting losses across the board at the onset of the European session. Moreover, the US treasury yields are showing signs of weakness, thereby reducing the dollar’s appeal.
USD/CHF Technical Levels
The pair has an immediate support located at 0.9785, under which a strong support is seen at 0.9742 levels. Meanwhile, resistance is seen at 0.9819 and 0.9848 levels.