9 Apr 2015
USD/CHF retreats from weekly highs below 0.97
FXStreet (Mumbai) - USD/CHF extends its upward trajectory for the fourth straight session largely on the back of the strengthening US dollar against its major competitors boosted by FOMC minutes.
USD/CHF supported above 0.96
Currently, the USD/CHF trades higher by 0.25% at 0.9684, retreating from fresh weekly highs printed at 0.9692 levels. The pair edged higher in an attempt to surpass 0.97 handle helped by the USD bulls after the March FOMC meeting minutes showed a Fed that remains confident about the medium term outlook for growth and inflation, and continues to view 2015 as the natural starting point for policy tightening.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades higher by 0.10% at 98.35, consolidating gains from the previous session.
Meanwhile, traders now turn their attention towards US unemployment claims figures for further incentives on the pair.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9700 levels and above which it could extend gains to 0.9745 levels. To the downside, immediate support might be located at 0.9650 levels and below that at 0.9600 levels.
USD/CHF supported above 0.96
Currently, the USD/CHF trades higher by 0.25% at 0.9684, retreating from fresh weekly highs printed at 0.9692 levels. The pair edged higher in an attempt to surpass 0.97 handle helped by the USD bulls after the March FOMC meeting minutes showed a Fed that remains confident about the medium term outlook for growth and inflation, and continues to view 2015 as the natural starting point for policy tightening.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades higher by 0.10% at 98.35, consolidating gains from the previous session.
Meanwhile, traders now turn their attention towards US unemployment claims figures for further incentives on the pair.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9700 levels and above which it could extend gains to 0.9745 levels. To the downside, immediate support might be located at 0.9650 levels and below that at 0.9600 levels.