19 Dec 2014
USD/CHF moves away from 2-yr High
FXStreet (Mumbai) - The Swiss franc steadies against the US dollar in a choppy Asian trading, recovering from two–year lows hit in the previous session.
Currently, the USD/CHF pair is seen trading at 0.9814 levels, up 0.15%, after sinking to two-year low of 0.9848 levels. The Swiss currency slumped against the US dollar after Swiss National Bank (SNB) announced a negative deposit rate, following in the footsteps of the European Central Bank (ECB), to mitigate the impact on the EUR/CHF ₣1.20 currency cap.
Meanwhile, upbeat US employment data released in US trading also added to the gains in the USD/CHF pair.
USD/CHF Levels to consider
To the upside, the next resistance is located at 0.9838 (May 2013 High) and above which it could extend gains to 0.9898 (Aug 2012 High) levels. To the downside immediate support might be located at 0.9808 (5-day SMA) and below that at 0.9734 (50-day SMA) levels.
Currently, the USD/CHF pair is seen trading at 0.9814 levels, up 0.15%, after sinking to two-year low of 0.9848 levels. The Swiss currency slumped against the US dollar after Swiss National Bank (SNB) announced a negative deposit rate, following in the footsteps of the European Central Bank (ECB), to mitigate the impact on the EUR/CHF ₣1.20 currency cap.
Meanwhile, upbeat US employment data released in US trading also added to the gains in the USD/CHF pair.
USD/CHF Levels to consider
To the upside, the next resistance is located at 0.9838 (May 2013 High) and above which it could extend gains to 0.9898 (Aug 2012 High) levels. To the downside immediate support might be located at 0.9808 (5-day SMA) and below that at 0.9734 (50-day SMA) levels.