20 Mar 2015
USD/CHF bounces-off fresh highs ahead of 0.9900
FXStreet (Mumbai) - USD/CHF wavered below 0.99 handle during the Asian session, with the upside capped by a broad US dollar weakness, as the Swiss franc remains supported on SNB’s unchanged policy decision.
USD/CHF awaits fresh incentives
Currently, the USD/CHF trades slightly lower by -0.10% at 0.9891, retracing from fresh session highs reached at 0.9901 levels at Tokyo open. USD/CHF edged lower mainly dragged by losses in the US dollar against its major counterparts amid a quiet economic calendar in the session ahead.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies declines to 99.21, recording -0.25% loss on the day.
Also, the Swiss currency continues to defend SNB backed gains and restricts the upside in the USD/CHF pair. The Swiss National Bank (SNB) left its deposit rate at -0.75% and reiterated that it is watching currency movements, especially the Swiss franc appreciation.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9950 levels and above which it could extend gains to 1.00 levels. To the downside, immediate support might be located at 0.9870 levels and below that at 0.9800 levels.
USD/CHF awaits fresh incentives
Currently, the USD/CHF trades slightly lower by -0.10% at 0.9891, retracing from fresh session highs reached at 0.9901 levels at Tokyo open. USD/CHF edged lower mainly dragged by losses in the US dollar against its major counterparts amid a quiet economic calendar in the session ahead.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies declines to 99.21, recording -0.25% loss on the day.
Also, the Swiss currency continues to defend SNB backed gains and restricts the upside in the USD/CHF pair. The Swiss National Bank (SNB) left its deposit rate at -0.75% and reiterated that it is watching currency movements, especially the Swiss franc appreciation.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9950 levels and above which it could extend gains to 1.00 levels. To the downside, immediate support might be located at 0.9870 levels and below that at 0.9800 levels.