7 May 2015
USD/CHF rises further and climbs above 0.9200
FXStreet (Córdoba) - USD/CHF bottomed at 0.9070 during the European session and rebounded. Since then it has risen more than a hundred pips from the lows and currently trades at daily highs above 0.9220, up 0.65% for the day.
The pair dropped earlier to the lowest level in three months, weakened after the release of exchange reserves data from the Swiss National Bank, that showed in April the first decline since the beginning of the year. But then bounced sharply as the US dollar climbed across the board and the Swiss franc erased gains.
USD/CHF is having the best day since April 22 , making a strong reversal ahead of the US employment report. The short term trend continues to favor the Swissy but greenback is giving the first signal in two weeks of a potential bottom has been reached above 0.9000.
The pair dropped earlier to the lowest level in three months, weakened after the release of exchange reserves data from the Swiss National Bank, that showed in April the first decline since the beginning of the year. But then bounced sharply as the US dollar climbed across the board and the Swiss franc erased gains.
USD/CHF is having the best day since April 22 , making a strong reversal ahead of the US employment report. The short term trend continues to favor the Swissy but greenback is giving the first signal in two weeks of a potential bottom has been reached above 0.9000.