24 Jul 2014
USD/CHF reaches fresh 5-month peak
FXStreet (Córdoba) - Moving inversely with the EUR/USD, the USD/CHF took a step higher and reached a fresh 5-month peak at the beginning of the European session.
The USD/CHF saw a quick modest rise to a high of 0.9037 before pulling back to its last sessions’ range. At time of writing, the pair is trading at 0.9028, 0.09% above its opening price.
Meanwhile, SNB Chairman Thomas Jordan said in an interview the cap on CHF remains a key policy tool and the bank will maintain the cap for the foreseeable future.
USD/CHF levels to watch
As for technical levels, the USD/CHF could find immediate resistances at 0.9037 (Jul 24 high), 0.9063 (Feb 6 high) and 0.9081 (feb 3 high). On the flip side, supports are seen at 0.9000 (psychological level), 0.8977 (Jul 22 low/10-day SMA) and 0.8950 (50-day SMA).
The USD/CHF saw a quick modest rise to a high of 0.9037 before pulling back to its last sessions’ range. At time of writing, the pair is trading at 0.9028, 0.09% above its opening price.
Meanwhile, SNB Chairman Thomas Jordan said in an interview the cap on CHF remains a key policy tool and the bank will maintain the cap for the foreseeable future.
USD/CHF levels to watch
As for technical levels, the USD/CHF could find immediate resistances at 0.9037 (Jul 24 high), 0.9063 (Feb 6 high) and 0.9081 (feb 3 high). On the flip side, supports are seen at 0.9000 (psychological level), 0.8977 (Jul 22 low/10-day SMA) and 0.8950 (50-day SMA).