7 Jul 2015
USD/CHF paring gains ahead of EU summit
FXStreet (Mumbai) - The Swiss Franc is recovering losses on safe haven bids ahead of the EU summit, pushing the USD/CHF pair below 0.9450 from the high of 0.9460 levels.
USD/CHF: Rangebound trading intact
The pair is being restricted to a range of 0.94-0.9470 since the Asian session on Monday. The gains in the CHF are being capped due to speculation regarding the SNB intervention. On the other hand, the safe haven of the CHF has ensured the upside remained capped around 0.9470 levels.
The investors now await fresh Greece related news flow from the EU summit scheduled later today. Earlier today, the official data showed the unemployment rate remained unchanged at 3.3% in June. However, the markets showed a little care to the Swiss macro data.
USD/CHF Technical Levels
The immediate resistance is located at 0.9470, above which the spot could target 0.95 levels. On the flip side, a break below 0.94 could open doors for a drop to 0.9340.
USD/CHF: Rangebound trading intact
The pair is being restricted to a range of 0.94-0.9470 since the Asian session on Monday. The gains in the CHF are being capped due to speculation regarding the SNB intervention. On the other hand, the safe haven of the CHF has ensured the upside remained capped around 0.9470 levels.
The investors now await fresh Greece related news flow from the EU summit scheduled later today. Earlier today, the official data showed the unemployment rate remained unchanged at 3.3% in June. However, the markets showed a little care to the Swiss macro data.
USD/CHF Technical Levels
The immediate resistance is located at 0.9470, above which the spot could target 0.95 levels. On the flip side, a break below 0.94 could open doors for a drop to 0.9340.