19 Dec 2014
USD/CHF steadies around 0.98
FXStreet (Mumbai) - The Swiss franc steadied during the Asian session today against the US dollar after falling sharply on Thursday on Swiss National Bank’s (SNB) negative interest rate surprise.
The USD/CHF pair currently trades largely unchanged at 0.9802 levels, compared to the previous session’s close of 0.98 levels. The franc weakened after SNB said Thursday it will begin charging banks 0.25% to leave their funds with it overnight beginning on Jan. 22. Meanwhile, the US dollar continues to remain strong after the Federal Reserve (Fed) chair. Yellen indicated possibility of a sooner-than-expected policy normalization if the economy continues to recover rapidly in 2015.
USD/CHF Technical Levels
The pair has an immediate support located at 0.9782, under which losses could be extended to 0.9717 levels. Meanwhile, resistance is located at 0.9819 and 0.9849 levels.
The USD/CHF pair currently trades largely unchanged at 0.9802 levels, compared to the previous session’s close of 0.98 levels. The franc weakened after SNB said Thursday it will begin charging banks 0.25% to leave their funds with it overnight beginning on Jan. 22. Meanwhile, the US dollar continues to remain strong after the Federal Reserve (Fed) chair. Yellen indicated possibility of a sooner-than-expected policy normalization if the economy continues to recover rapidly in 2015.
USD/CHF Technical Levels
The pair has an immediate support located at 0.9782, under which losses could be extended to 0.9717 levels. Meanwhile, resistance is located at 0.9819 and 0.9849 levels.