2 Feb 2015
USD/CHF retreats from 2-week highs
FXStreet (Córdoba) - USD/CHF climbed to a fresh 2-week high on Monday amid signs the Swiss National Bank has been intervening to weaken the franc, aiming an informal band of 1.05-1.10 for EUR/CHF.
USD/CHF rose nearly 150 pips throughout the day and reached a high of 0.9344, last seen Jan 15 when the SNB decided to remove the franc cap. However, the pair faced resistance and pulled back below the 0.93 mark to currently trade at 0.9290, still up 1.01% on the day.
USD/CHF levels to watch
In terms of technical levels, USD/CHF could find immediate resistances at 0.9344 (daily high) and 0.9363 (21-day SMA). On the other hand, supports are seen at 0.9200 (psychological level/daily low) and 0.9169 (Jan 30 low).
USD/CHF rose nearly 150 pips throughout the day and reached a high of 0.9344, last seen Jan 15 when the SNB decided to remove the franc cap. However, the pair faced resistance and pulled back below the 0.93 mark to currently trade at 0.9290, still up 1.01% on the day.
USD/CHF levels to watch
In terms of technical levels, USD/CHF could find immediate resistances at 0.9344 (daily high) and 0.9363 (21-day SMA). On the other hand, supports are seen at 0.9200 (psychological level/daily low) and 0.9169 (Jan 30 low).