13 Aug 2015
USD/CHF extending recovery towards 0.9800
FXStreet (Mumbai) - USD/CHF poses a mild rebound in the European session, recovering only a part of yesterday’s heavy losses, as the Swiss franc lost ground as PBOC led risk aversion faded and thus eroded the safe-haven demand for the CHF.
USD/CHF supported at 0.9729
Currently, the USD/CHF pair trades 0.19% higher at 0.9772, retreating from fresh session highs posted at 0.9787. The USD/CHF pair continues its recovery mode as the US dollar remains firmer across the board.
The US dollar index, which measures the relative strength of the greenback against its major competitors, is trades 0.32% higher now at 96.58.
On Swiss data space, producer and import prices faltered more than expected in June, a reading showed on Thursday, as the so-called PPI index trashed 0.3% and 6.4m/m and y/y, respectively. However, the report had a negligible impact on the USD/CHF pair.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9850 levels and above which it could extend gains 0.9866 levels. To the downside, immediate support might be located at 0.9729 (Today’s Low) levels and below that at 0.9674 (Aug 12 Low) levels.
USD/CHF supported at 0.9729
Currently, the USD/CHF pair trades 0.19% higher at 0.9772, retreating from fresh session highs posted at 0.9787. The USD/CHF pair continues its recovery mode as the US dollar remains firmer across the board.
The US dollar index, which measures the relative strength of the greenback against its major competitors, is trades 0.32% higher now at 96.58.
On Swiss data space, producer and import prices faltered more than expected in June, a reading showed on Thursday, as the so-called PPI index trashed 0.3% and 6.4m/m and y/y, respectively. However, the report had a negligible impact on the USD/CHF pair.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9850 levels and above which it could extend gains 0.9866 levels. To the downside, immediate support might be located at 0.9729 (Today’s Low) levels and below that at 0.9674 (Aug 12 Low) levels.