20 Feb 2015
USD/CHF falls 100 pips from highs
FXStreet (Córdoba) - USD/CHF failed to sustain gains above the 0.9500 level and pulled back sharply to trade in negative ground for the day.
USD/CHF reached a recovery peak of 0.9535 during the European session but faltered ahead of the 100-day SMA (0.9542) and dropped a full cent over the last hours to hit a low of 0.9433. At time of writing, the pair is trading at 0.9435, recording a 0.56% loss on the day. However, USD/CHF remains on track to post its second weekly gain in a row.
The franc has benefited amid Greece negotiations jitters on Friday as it seems the currency is regaining its safe-haven status after the SNB abandoned the EUR/CHF floor. However, the Swiss bank has expressed its discomfort with a strong CHF and has reportedly been intervening to weaken it.
USD/CHF reached a recovery peak of 0.9535 during the European session but faltered ahead of the 100-day SMA (0.9542) and dropped a full cent over the last hours to hit a low of 0.9433. At time of writing, the pair is trading at 0.9435, recording a 0.56% loss on the day. However, USD/CHF remains on track to post its second weekly gain in a row.
The franc has benefited amid Greece negotiations jitters on Friday as it seems the currency is regaining its safe-haven status after the SNB abandoned the EUR/CHF floor. However, the Swiss bank has expressed its discomfort with a strong CHF and has reportedly been intervening to weaken it.