19 Feb 2015
USD/CHF rises to fresh highs after upbeat Swiss data
FXStreet (Mumbai) - USD/CHF reversed previous losses and edged higher to fresh session highs, despite better than estimates Swiss trade balance data, as the US dollar regains lost ground versus major peers.
USD/CHF up from 0.9414 post Swiss data
Currently, the USD/CHF traded 0.13% higher at fresh session highs at 0.9437 levels, rising from 0.9414 levels after the data release. The pair climbed higher as markets were left unimpressed by solid Swiss Trade balance figures which showed that Switzerland's trade surplus widened to CHF3.43 billion in January, against forecasts of a surplus of CHF1.20 billion. A broad based US dollar recovery against major counterparts, added to the upside in the pair, having weakened overnight on a patient US Fed on rate hike timing.
Meanwhile, USD/CHF extends its recovery mode after the revocation of a cap rate on EUR/CHF and general intraday uptrend persists until 0.9400 levels is breached as traders now await US macro data for fresh cues.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9454 levels and above which it could extend gains to 0.9500 levels. To the downside, immediate support might be located at 0.9400 levels and below that at 0.9313 levels.
USD/CHF up from 0.9414 post Swiss data
Currently, the USD/CHF traded 0.13% higher at fresh session highs at 0.9437 levels, rising from 0.9414 levels after the data release. The pair climbed higher as markets were left unimpressed by solid Swiss Trade balance figures which showed that Switzerland's trade surplus widened to CHF3.43 billion in January, against forecasts of a surplus of CHF1.20 billion. A broad based US dollar recovery against major counterparts, added to the upside in the pair, having weakened overnight on a patient US Fed on rate hike timing.
Meanwhile, USD/CHF extends its recovery mode after the revocation of a cap rate on EUR/CHF and general intraday uptrend persists until 0.9400 levels is breached as traders now await US macro data for fresh cues.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9454 levels and above which it could extend gains to 0.9500 levels. To the downside, immediate support might be located at 0.9400 levels and below that at 0.9313 levels.