25 Aug 2015
USD/CHF clinches highs near 0.9450
FXStreet (Edinburgh) - The US dollar is now picking up pace on Tuesday, pushing USD/CHF to the area of daily tops near 0.9450.
USD/CHF bid after PBoC move
The pair is extending its upbeat momentum today following the recent decision by the PBoC to cut its interest rate by 25 bp to 4.6%, the deposit rate to 1.75% and the RRR by 50 bp. With today’s decision, the PBoC looks to pump longer-term liquidity and counteract the downside pressure in the domestic economy.
The pair is reverting the negative multi-session streak following yesterday’s drop to 8-week troughs in the mid-0.9200s, in a context where the greenback continues to gather further traction.
USD/CHF important levels
The pair is now advancing 1.36% at 0.9433 facing the next resistance at 0.9457 (high Aug.24) ahead of 0.9587 (high Aug.21) and then 0.9672 (high Aug.20). On the downside, a drop beyond 0.9315 (low Aug.25) would open the door to 0.9259 (low Aug.24) and finally 0.9156 (low Jun.22).
USD/CHF bid after PBoC move
The pair is extending its upbeat momentum today following the recent decision by the PBoC to cut its interest rate by 25 bp to 4.6%, the deposit rate to 1.75% and the RRR by 50 bp. With today’s decision, the PBoC looks to pump longer-term liquidity and counteract the downside pressure in the domestic economy.
The pair is reverting the negative multi-session streak following yesterday’s drop to 8-week troughs in the mid-0.9200s, in a context where the greenback continues to gather further traction.
USD/CHF important levels
The pair is now advancing 1.36% at 0.9433 facing the next resistance at 0.9457 (high Aug.24) ahead of 0.9587 (high Aug.21) and then 0.9672 (high Aug.20). On the downside, a drop beyond 0.9315 (low Aug.25) would open the door to 0.9259 (low Aug.24) and finally 0.9156 (low Jun.22).