5 Mar 2015
USD/CHF in a bid to test 2-month highs
FXStreet (Mumbai) - USD/CHF extends its upward trajectory in the early European morning, mostly driven by the upsurge in the US dollar across the board sitting at fresh multi-year top.
USD/CHF on its way to fresh two-month highs
Currently, the USD/CHF trades 0.25% higher at 0.9658 levels, hovering close to fresh seven-week highs posted at 0.9678 levels in the previous session. The pair prolongs its uptrend as traders continue to cheer robust US services PMI, shrugging off a modest fall in the ADP report. Moreover, the gains accelerated in USD/CHF as the US dollar soars to fresh twelve year highs against its major peers.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies reached fresh twelve year highs at 96.26 levels, recording a 0.29% gain on the day.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9678 (March 4 High) levels and above which it could extend gains to 0.9700 levels. To the downside, immediate support might be located at 0.9604 (5-DMA) levels and below that at 0.9550 (100-DMA) levels.
USD/CHF on its way to fresh two-month highs
Currently, the USD/CHF trades 0.25% higher at 0.9658 levels, hovering close to fresh seven-week highs posted at 0.9678 levels in the previous session. The pair prolongs its uptrend as traders continue to cheer robust US services PMI, shrugging off a modest fall in the ADP report. Moreover, the gains accelerated in USD/CHF as the US dollar soars to fresh twelve year highs against its major peers.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies reached fresh twelve year highs at 96.26 levels, recording a 0.29% gain on the day.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9678 (March 4 High) levels and above which it could extend gains to 0.9700 levels. To the downside, immediate support might be located at 0.9604 (5-DMA) levels and below that at 0.9550 (100-DMA) levels.