10 Mar 2015
USD/CHF fails at parity
FXStreet (Córdoba) - USD/CHF extended gains during the American session, reaching its highest level since the SNB abandoned the franc cap, but faltered a couple of pips ahead of the parity level.
USD/CHF posted its highest level in 2 months at 0.9998 but failed to regain the 1.00 mark and pulled back. With the subsequent pullback being contained by the 0.9955 zone, the pair is currently trading at 0.9960, still up 1.07% on the day.
The pair has risen 7 out of the last 8 trading days on broad dollar strength amid prospects of a rate hike by the Fed. Meanwhile, some reports suggesting the Swiss government is seeking to set up a new EUR/CHF floor are weighing on the franc.
USD/CHF technical levels
In terms of technical levels, immediate resistances remain at 1.0000 (psychological level) and 1.0070 (100-month SMA). On the downside, supports could be found at 0.9852 (daily low) and 0.9824 (Mar 9 low).
USD/CHF posted its highest level in 2 months at 0.9998 but failed to regain the 1.00 mark and pulled back. With the subsequent pullback being contained by the 0.9955 zone, the pair is currently trading at 0.9960, still up 1.07% on the day.
The pair has risen 7 out of the last 8 trading days on broad dollar strength amid prospects of a rate hike by the Fed. Meanwhile, some reports suggesting the Swiss government is seeking to set up a new EUR/CHF floor are weighing on the franc.
USD/CHF technical levels
In terms of technical levels, immediate resistances remain at 1.0000 (psychological level) and 1.0070 (100-month SMA). On the downside, supports could be found at 0.9852 (daily low) and 0.9824 (Mar 9 low).