27 Jan 2015
USD/CHF retraces intraday gains
FXStreet (Córdoba) - USD/CHF failed to sustain intraday gains and pulled back following a short-lived spike triggered by SNB Danthine comments.
The franc weakened across the board after Swiss National Bank Vice President Jean-Pierre Danthine was quoted as saying the bank was still prepared to intervene in the market to prevent the franc from appreciating.
USD/CHF jumped to 0.9167, hitting its highest level since SNB decision to remove the cap on Jan 15, but the rally faltered soon after. USD/CHF has retraced completely intraday gains and it is currently trading at 0.8980, now 0.49% below its opening price.
USD/CHF levels to watch
In terms of technical levels, USD/CHF could find immediate resistances at 0.9167 (daily high) and 0.9200 (psychological level). On the flip side, supports are seen at 0.8935 (daily low) and 0.8900 (psychological level) followed by 0.8835 (Jan 20 high).
The franc weakened across the board after Swiss National Bank Vice President Jean-Pierre Danthine was quoted as saying the bank was still prepared to intervene in the market to prevent the franc from appreciating.
USD/CHF jumped to 0.9167, hitting its highest level since SNB decision to remove the cap on Jan 15, but the rally faltered soon after. USD/CHF has retraced completely intraday gains and it is currently trading at 0.8980, now 0.49% below its opening price.
USD/CHF levels to watch
In terms of technical levels, USD/CHF could find immediate resistances at 0.9167 (daily high) and 0.9200 (psychological level). On the flip side, supports are seen at 0.8935 (daily low) and 0.8900 (psychological level) followed by 0.8835 (Jan 20 high).