23 Mar 2015
USD/CHF surpasses 0.9800
FXStreet (Mumbai) - The US dollar extended its upward moves versus its Swiss counterpart in the mid-European session, pushing USD/CHF to fresh session highs above 0.9800 mainly driven by solid recovery in the greenback.
USD/CHF hovers around 5-DMA
Currently, the USD/CHF surged by 0.60% and trades at fresh session highs at 0.9808 levels, retreating from day’s low previously posted at 0.9769. The pair swung back on 0.98 handle largely on the back of a renewed strength in the US dollar against its major competitors, moving away from fresh two week lows following a rather dovish FOMC statement that showed US central bankers are no longer patient, although they will not rush to raise rates.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades at a new session high at 98.54, recording a 0.48% gain on the day.
Meanwhile, traders focus on US existing home sales to be released later in the day for fresh incentives on the pair.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9854 (20-DMA) levels and above which it could extend gains to 0.9877 levels. To the downside, immediate support might be located at 0.9769 levels and below that at 0.9733 levels.
USD/CHF hovers around 5-DMA
Currently, the USD/CHF surged by 0.60% and trades at fresh session highs at 0.9808 levels, retreating from day’s low previously posted at 0.9769. The pair swung back on 0.98 handle largely on the back of a renewed strength in the US dollar against its major competitors, moving away from fresh two week lows following a rather dovish FOMC statement that showed US central bankers are no longer patient, although they will not rush to raise rates.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades at a new session high at 98.54, recording a 0.48% gain on the day.
Meanwhile, traders focus on US existing home sales to be released later in the day for fresh incentives on the pair.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9854 (20-DMA) levels and above which it could extend gains to 0.9877 levels. To the downside, immediate support might be located at 0.9769 levels and below that at 0.9733 levels.