12 Apr 2016
USD/CHF: From 5-month lows to 5-day highs
A recovery of the US dollar across the board boosted the USD/CHF that rose sharply, rising almost a hundred pips from the lows.
During the European session the pair dropped to 0.9498, hitting the weakest level since October 20 of last year. But quickly rose back above 0.9500 and then extended the upside, as the US dollar gained momentum in the market, particularly versus European currencies.
After the beginning of trading in Wall Street it rose further and recently reached the highest level in five days at 0.9592. Currently, it trades at 0.9580, up almost 40 pips from yesterday’s closing price. So far it is the best performance for the US dollar in three weeks.
USD/CHF technical levels
To the downside, support levels might now be seen at 0.9570 (Apr 11 high), 0.9550 (Asian session high) and the 0.9500 zone (April lows). On the opposite direction resistance could be located at 0.9590/95 (daily high), 0.9625 (Apr 01 & 06 highs) and 0.9665 (Mar 31 high).
During the European session the pair dropped to 0.9498, hitting the weakest level since October 20 of last year. But quickly rose back above 0.9500 and then extended the upside, as the US dollar gained momentum in the market, particularly versus European currencies.
After the beginning of trading in Wall Street it rose further and recently reached the highest level in five days at 0.9592. Currently, it trades at 0.9580, up almost 40 pips from yesterday’s closing price. So far it is the best performance for the US dollar in three weeks.
USD/CHF technical levels
To the downside, support levels might now be seen at 0.9570 (Apr 11 high), 0.9550 (Asian session high) and the 0.9500 zone (April lows). On the opposite direction resistance could be located at 0.9590/95 (daily high), 0.9625 (Apr 01 & 06 highs) and 0.9665 (Mar 31 high).