30 Jul 2015
USD/CHF reaches fresh 3-month highs above 0.9700
FXStreet (Mumbai) - The US dollar prolongs its upward trajectory versus the Swiss currency in the European morning, with USD/CHF jolting higher to fresh multi-month highs, as the pair benefits from a broadly stronger US dollar while markets ignored the latest upbeat Swiss data.
USD/CHF tracks greenback higher
Currently, the USD/CHF pair trades 0.29% higher at fresh three-month highs of 0.9708, extending gains from 0.9675 levels. The USD/CHF pair extends its long run of gains mainly mirroring the gains in the US currency as the bulls remain boosted after FOMC kept is rate-hike stance this year intact in its latest FOMC statement p[published on Wednesday, while sounding optimistic on the US economic outlook.
Moreover, Swiss franc continued to fall versus the US dollar as traders paid no heed to upbeat Swiss KOF economic barometer which revealed that Switzerland KOF leading indicator came in at 99.8, above forecasts of 90.3 in July.
Traders await the a slew of US economic data due later today for further momentum on the CHF pair.
Trade the US GDP data with Bednarik, Pinkert and Carrillo - Live Coverage
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9719 levels and above which it could extend gains 0.9750 levels. To the downside, immediate support might be located at 0.9675 (Today’s Low) levels and below that at 0.9599 (July 29 Low) levels.
USD/CHF tracks greenback higher
Currently, the USD/CHF pair trades 0.29% higher at fresh three-month highs of 0.9708, extending gains from 0.9675 levels. The USD/CHF pair extends its long run of gains mainly mirroring the gains in the US currency as the bulls remain boosted after FOMC kept is rate-hike stance this year intact in its latest FOMC statement p[published on Wednesday, while sounding optimistic on the US economic outlook.
Moreover, Swiss franc continued to fall versus the US dollar as traders paid no heed to upbeat Swiss KOF economic barometer which revealed that Switzerland KOF leading indicator came in at 99.8, above forecasts of 90.3 in July.
Traders await the a slew of US economic data due later today for further momentum on the CHF pair.
Trade the US GDP data with Bednarik, Pinkert and Carrillo - Live Coverage
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9719 levels and above which it could extend gains 0.9750 levels. To the downside, immediate support might be located at 0.9675 (Today’s Low) levels and below that at 0.9599 (July 29 Low) levels.