25 Mar 2015
USD/CHF back below 0.9600
FXStreet (Mumbai) - The Swiss franc regained lost ground against the US dollar in the mid European session, as the CHF bulls jumped back into the bids, although a modest one and erased previous losses.
USD/CHF hovers around 0.9580
Currently, the USD/CHF pair trades flat at 0.9580 levels, moving away from fresh session highs previously posted at 0.9604. The pair reversed previous gains this session and trades muted as the Swiss currency was boosted by impressive German Ifo data in addition to the recent Euro zone PMI readings.
The Ifo Business Climate Index ticked higher to 107.9 from 106.8, the Current Assessment Index rose to 112.0 from 111.3 previously, while the Ifo Expectations Index printed 103.9, above February's 102.5.
Moreover, Rabobank said in a research note on Monday that “CHF net positions turned positive for the first time since May 2014. The SNB refrained from further policy stimulus last week,” also supported the Swiss currency. Traders now focus on US durable goods data to be released later in the day for fresh incentives on the pair.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9650 levels and above which it could extend gains to 0.9696 levels. To the downside, immediate support might be located at 0.9530 levels and below that at 0.9500 levels.
USD/CHF hovers around 0.9580
Currently, the USD/CHF pair trades flat at 0.9580 levels, moving away from fresh session highs previously posted at 0.9604. The pair reversed previous gains this session and trades muted as the Swiss currency was boosted by impressive German Ifo data in addition to the recent Euro zone PMI readings.
The Ifo Business Climate Index ticked higher to 107.9 from 106.8, the Current Assessment Index rose to 112.0 from 111.3 previously, while the Ifo Expectations Index printed 103.9, above February's 102.5.
Moreover, Rabobank said in a research note on Monday that “CHF net positions turned positive for the first time since May 2014. The SNB refrained from further policy stimulus last week,” also supported the Swiss currency. Traders now focus on US durable goods data to be released later in the day for fresh incentives on the pair.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9650 levels and above which it could extend gains to 0.9696 levels. To the downside, immediate support might be located at 0.9530 levels and below that at 0.9500 levels.