18 Feb 2015
USD/CHF inches closer to 200-DMA
FXStreet (Mumbai) - The US dollar advanced ahead of the Fed minutes release, taking the USD/CHF pair to 0.9383 levels. The pair now within a touching distance from the 200-DMA located at 0.9391 levels.
Franc hit by SNB President’s comments
The Swiss Franc came under pressure yesterday after the Swiss National Bank President, Thomas Jordan, signalled that the central bank stands prepared to intervene in the foreign exchange market to combat the “overvalued” Swiss Franc, which was posing a threat to various sectors exposed to international competition.
Meanwhile, the pair could take cues from the Swiss ZEW economic expectations data due for release in a couple of hours.
USD/CHF Technical Levels
The pair has an immediate resistance at 0.9391 (200-DMA), above which gains could be extended to 0.9449 (50-DMA). On the flip side, a break below 0.9337 (5-DMA) could push the pair down to 0.9302 (10-DMA) levels.
Franc hit by SNB President’s comments
The Swiss Franc came under pressure yesterday after the Swiss National Bank President, Thomas Jordan, signalled that the central bank stands prepared to intervene in the foreign exchange market to combat the “overvalued” Swiss Franc, which was posing a threat to various sectors exposed to international competition.
Meanwhile, the pair could take cues from the Swiss ZEW economic expectations data due for release in a couple of hours.
USD/CHF Technical Levels
The pair has an immediate resistance at 0.9391 (200-DMA), above which gains could be extended to 0.9449 (50-DMA). On the flip side, a break below 0.9337 (5-DMA) could push the pair down to 0.9302 (10-DMA) levels.