21 Jan 2014
USD/CHF reaches 2-month high
FXstreet.com (Córdoba) - The dollar strengthened broadly Tuesday, with the USD/CHF climbing to a 2-month high amid speculations the Fed could continue to taper the QE program next week.
A Wall Street Journal article by Fed watcher Hilsenrath noted that the likelihood that the Fed extends its tapering program next week has been widely discussed. "It has been cited as giving the greenback a lift today, especially against the yen, even though a consensus on this seemed to emerge last week as the new data and official comments encouraged looking past the disappointing December jobs report", said the BBH analyst team.
USD/CHF levels to watch
The USD/CHF regained the 0.9100 mark and rallied to a high of 0.9150, last seen Nov 22. At time of writing, the USD/CHF is trading around 0.9145, recording a 0.5% gain on the day, with immediate resistances lining up at 0.9188/9 (Nov 21 & 20 highs) and 0.9200 (psychological level). On the flip side, supports are seen at 0.9092 (daily low) and 0.9076 (100-day SMA).
A Wall Street Journal article by Fed watcher Hilsenrath noted that the likelihood that the Fed extends its tapering program next week has been widely discussed. "It has been cited as giving the greenback a lift today, especially against the yen, even though a consensus on this seemed to emerge last week as the new data and official comments encouraged looking past the disappointing December jobs report", said the BBH analyst team.
USD/CHF levels to watch
The USD/CHF regained the 0.9100 mark and rallied to a high of 0.9150, last seen Nov 22. At time of writing, the USD/CHF is trading around 0.9145, recording a 0.5% gain on the day, with immediate resistances lining up at 0.9188/9 (Nov 21 & 20 highs) and 0.9200 (psychological level). On the flip side, supports are seen at 0.9092 (daily low) and 0.9076 (100-day SMA).