20 Feb 2015
USD/CHF hits fresh monthly highs above 0.9500
FXStreet (Mumbai) - USD/CHF rallied to highest levels since SNB cap removal in the European morning, as the Swiss franc remains pressured against the US dollar ahead of the third round of Greek debt talks at the Euro group meeting later in the session.
USD/CHF breaks above 0.9500
Currently, the USD/CHF traded 0.21% higher at fresh one-month highs of 0.9517 levels, moving away from day’s low posted at 0.9484 earlier in the day. The pair remains underpinned as the Swiss franc remains pressured amid hopes for a Greek debt resolution.
Moreover, adding to the strength in the pair, traders prefer to hold the reserve currency before Euro group meeting which is likely to boost the demand for USD.
Meanwhile, USD/CHF extends its recovery mode after the revocation of a cap rate on EUR/CHF and general intraday uptrend persists until 0.9484 levels is breached as traders now await fresh insights from the Greece-Euro group meeting later in the session.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9550 levels and above which it could extend gains to 0.9580 levels. To the downside, immediate support might be located at 0.9480 levels and below that at 0.9400 levels.
USD/CHF breaks above 0.9500
Currently, the USD/CHF traded 0.21% higher at fresh one-month highs of 0.9517 levels, moving away from day’s low posted at 0.9484 earlier in the day. The pair remains underpinned as the Swiss franc remains pressured amid hopes for a Greek debt resolution.
Moreover, adding to the strength in the pair, traders prefer to hold the reserve currency before Euro group meeting which is likely to boost the demand for USD.
Meanwhile, USD/CHF extends its recovery mode after the revocation of a cap rate on EUR/CHF and general intraday uptrend persists until 0.9484 levels is breached as traders now await fresh insights from the Greece-Euro group meeting later in the session.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9550 levels and above which it could extend gains to 0.9580 levels. To the downside, immediate support might be located at 0.9480 levels and below that at 0.9400 levels.