FXStreet (Mumbai) - The broad based USD selling in early Europe pushed the USD/CHF to a low of 0.9880, before the bid tone recovered and the pair made its way back to trade around 0.99 handle.
Trades above hourly 50-MA
The spot currently trades few pips above its hourly 50-MA 0.9898. The CHF finally managed to make a minor comeback on Thursday, thereby snapping the ten day winning streak in the USD/CHF pair. Moreover, the speculation that the SNB could announce more easing in response to the ECB’s December easing hint led to a sell-off in the CHF.
Later in the day, the pair could take cues from the US personal income and spending report.
USD/CHF Technical Levels
At 0.9905, the immediate resistance is seen at 0.9957 (Oct 28 high), above which the pair could rise to 1.00 handle. On the other side, support is seen at 0.9898 (hourly 50-MA) and 0.9865 (hourly 100-MA).
For more information, read our latest forex news.
No comments:
Post a Comment