9 Apr 2015
USD/CHF hits fresh weekly highs above 0.97
FXStreet (Mumbai) - USD/CHF pierced through the 0.97 barrier and remained elevated during the European session, mainly driven by EUR/USD weakness after the shared currency tumbled to 1.0730 weekly lows.
USD/CHF rallies above 0.9700
Currently, the USD/CHF trades higher by 0.51% at 0.9708, retesting fresh weekly highs printed at 0.9721 levels. The pair extends gains beyond 0.9700 as the US dollar continues to rise against its major competitors after Wednesday's FOMC minutes showed that the central bank is still on track to hike rates this year.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades higher by 0.36% at 98.62, extending its post FOMC minutes rally.
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 0.9745 levels and above which it could extend gains to 0.9800 levels. To the downside, immediate support might be located at 0.9650 levels and below that at 0.9600 levels.
USD/CHF rallies above 0.9700
Currently, the USD/CHF trades higher by 0.51% at 0.9708, retesting fresh weekly highs printed at 0.9721 levels. The pair extends gains beyond 0.9700 as the US dollar continues to rise against its major competitors after Wednesday's FOMC minutes showed that the central bank is still on track to hike rates this year.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades higher by 0.36% at 98.62, extending its post FOMC minutes rally.
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 0.9745 levels and above which it could extend gains to 0.9800 levels. To the downside, immediate support might be located at 0.9650 levels and below that at 0.9600 levels.