17 Feb 2015
USD/CHF reaches fresh 1-month high
FXStreet (Córdoba) - USD/CHF extended gains and reached its highest level since the SNB removed the EUR/CHF floor on Jan 15, as comments from Jordan helped to weaken the franc.
SNB Chairman, Thomas Jordan, said Tuesday the bank will continue to take the exchange rate into consideration when formulating its monetary policy. Even though USD/CHF failed at a first attempt, it finally broke above the 0.9365 area and reached a high of 0.9374 before easing slightly. At time of writing, the pair is trading at 0.9370, recording a 0.64% daily gain.
USD/CHF levels to watch
If USD/CHF manages to break above 0.9375, next resistances line up at 0.9400 (psychological level) and 0.9497 (50-day SMA). On the flip side, supports are seen at 0.9304 (200-day SMA), 0.9300 (psychological level) and 0.9278 (10-day SMA).
SNB Chairman, Thomas Jordan, said Tuesday the bank will continue to take the exchange rate into consideration when formulating its monetary policy. Even though USD/CHF failed at a first attempt, it finally broke above the 0.9365 area and reached a high of 0.9374 before easing slightly. At time of writing, the pair is trading at 0.9370, recording a 0.64% daily gain.
USD/CHF levels to watch
If USD/CHF manages to break above 0.9375, next resistances line up at 0.9400 (psychological level) and 0.9497 (50-day SMA). On the flip side, supports are seen at 0.9304 (200-day SMA), 0.9300 (psychological level) and 0.9278 (10-day SMA).