23 Feb 2015
USD/CHF bounces-off 200-DMA
FXStreet (Mumbai) - USD/CHF rallies in the Asian session, rebounding from under 0.9400 levels seen on Friday after the Swiss franc gained against the US dollar on increased safe-haven appeal amid looming Greek concerns.
USD/CHF trades around 5-DMA
Currently, the USD/CHF traded 0.51% higher at 0.9431 levels, bouncing-off 0.9369 levels reached on Friday. The pair edged higher on a short-covering rally after the recent weakness. Moreover, easing concerns over Greece after an interim deal was reached, saw a generalized risk-on sentiment return in markets, boosting the demand for the US dollar.
Meanwhile, USD/CHF extends its recovery mode after the revocation of a cap rate on EUR/CHF and general intraday uptrend persists until 0.9380 (10-DMA) levels is breached ahead of US housing data due later in the day.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9500 levels and above which it could extend gains to 0.9537 levels. To the downside, immediate support might be located at 0.9404 (200-DMA) levels and below that at 0.9380 (10-DMA) levels.
USD/CHF trades around 5-DMA
Currently, the USD/CHF traded 0.51% higher at 0.9431 levels, bouncing-off 0.9369 levels reached on Friday. The pair edged higher on a short-covering rally after the recent weakness. Moreover, easing concerns over Greece after an interim deal was reached, saw a generalized risk-on sentiment return in markets, boosting the demand for the US dollar.
Meanwhile, USD/CHF extends its recovery mode after the revocation of a cap rate on EUR/CHF and general intraday uptrend persists until 0.9380 (10-DMA) levels is breached ahead of US housing data due later in the day.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9500 levels and above which it could extend gains to 0.9537 levels. To the downside, immediate support might be located at 0.9404 (200-DMA) levels and below that at 0.9380 (10-DMA) levels.