2 Feb 2015
USD/CHF rises above 0.9300 levels
FXStreet (Mumbai) - The USD/CHF pair rose above 0.93 levels on reports that the Swiss National Bank is considering an unofficial EUR/CHF target.
USD/CHF at post-SNB highs
The pair currently trades at its highest level since the Swiss National Bank announced a surprised end to its EUR/CHF floor in mid-January. Since then the Franc has been weakening steadily on increased speculation that the SNB would consider stealth intervention.
The losses witnessed today were triggered by Schweiz am Sonntag newspaper, which said the SNB is said to have adopted a “corridor” from 1.05 francs to 1.10 francs in EUR/CHF exchange rate. This led to swiss franc being sold across the board, pushing the USD/CHF pair above 0.93 levels.
USD/CHF Technical Levels
At the moment, the pair is trading 1.39% higher at 0.9328 levels. The immediate resistance is seen at 0.9367 (200-DMA), above which gains could be extended to 0.9573 (50-DMA). On the flip side, the support is seen at 9281 and 9201 (5-DMA) levels.
USD/CHF at post-SNB highs
The pair currently trades at its highest level since the Swiss National Bank announced a surprised end to its EUR/CHF floor in mid-January. Since then the Franc has been weakening steadily on increased speculation that the SNB would consider stealth intervention.
The losses witnessed today were triggered by Schweiz am Sonntag newspaper, which said the SNB is said to have adopted a “corridor” from 1.05 francs to 1.10 francs in EUR/CHF exchange rate. This led to swiss franc being sold across the board, pushing the USD/CHF pair above 0.93 levels.
USD/CHF Technical Levels
At the moment, the pair is trading 1.39% higher at 0.9328 levels. The immediate resistance is seen at 0.9367 (200-DMA), above which gains could be extended to 0.9573 (50-DMA). On the flip side, the support is seen at 9281 and 9201 (5-DMA) levels.