USD/CHF in multi-week tops above 0.9900

The Swiss franc is now accelerating its depreciation vs. the greenback, lifting USD/CHF to fresh highs beyond 0.9900 the figure.

USD/CHF up on SNB intervention rumours

The pair is trading in levels last seen in late May above the 0.9900 handle amidst growing speculation of FX intervention by the SNB following today’s sudden CHF weakness.

Data wise, US S&P/Case-Shiller index rose at a non-seasonally adjusted 5.2% on a year to May, the slowest pace since September 2015. Next on tap will be Markit’s Services PMI, New Home Sales and Consumer Confidence measured by the Conference Board.

USD/CHF key levels

The pair is now up 0.49% at 0.9907 facing the next resistance at 0.9960 (high May 30) followed by 1.0098 (high Mar.10) and the 1.0131 (high Jan.5). On the downside, a breach of 0.9820 (20-day sma) would open the door to 0.9760 (low Jul.14) and finally 0.9684 (low Jul.5).