8 Dec 2014
USD/CHF consolidates below 0.98 levels
FXStreet (Mumbai) - The USD/CHF pair is seen trading today in a narrow range locked between 0.9792 -09770 levels.
USD/CHF trades modestly flat at 0.9783, 0.09 % lower as compared to Friday’s close, at time of writing. The pair remains underpinned given the broad based strength in the US dollar against G10 currencies.
Ahead in the week, investors will be awaiting Thursday's U.S. data on retail sales and jobless claims and Friday’s report on consumer sentiment for further clues on the strength of the economic recovery.
USD/CHF Levels to consider
To the upside, the next resistance is located at 0.9801 (Dec 5 High) and above which it could extend gains to 0.9837 (May 2013 High) levels. To the downside immediate support might be located at 0.9748 (50-day SMA) and below that at 0.97 (200-day SMA) levels.
USD/CHF trades modestly flat at 0.9783, 0.09 % lower as compared to Friday’s close, at time of writing. The pair remains underpinned given the broad based strength in the US dollar against G10 currencies.
Ahead in the week, investors will be awaiting Thursday's U.S. data on retail sales and jobless claims and Friday’s report on consumer sentiment for further clues on the strength of the economic recovery.
USD/CHF Levels to consider
To the upside, the next resistance is located at 0.9801 (Dec 5 High) and above which it could extend gains to 0.9837 (May 2013 High) levels. To the downside immediate support might be located at 0.9748 (50-day SMA) and below that at 0.97 (200-day SMA) levels.