17 Mar 2015
USD/CHF heads towards 1.01
FXStreet (Mumbai) - The US dollar strengthened versus the Swiss franc in the early European morning, taking USD/CHF to fresh session highs at 1.0089 levels, as weak Swiss data continues to weigh on the franc.
USD/CHF lifted on USD strength
Currently, the USD/CHF rose by 0.15% and trades at fresh session highs at 1.0091 levels, swiftly recovering from session lows of 1.0077. The pair edged higher largely on the pull back in the US dollar after retreated in the US last session on bearish US manufacturing sector data.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades flat near twelve year highs around 100.20.
USD/CHF also remains underpin on downbeat Swiss retail sales and PPI data which continues to hurt the Swiss currency. Meanwhile, traders now turn their attention towards significant US economic releases as FOMC commences its two-day policy meeting later today.
USD/CHF Technical Levels
To the upside, the next resistance is located at 1.0100 levels and above which it could extend gains to 1.0131 levels. To the downside, immediate support might be located at 1.00 levels and below that at 0.9966 levels.
USD/CHF lifted on USD strength
Currently, the USD/CHF rose by 0.15% and trades at fresh session highs at 1.0091 levels, swiftly recovering from session lows of 1.0077. The pair edged higher largely on the pull back in the US dollar after retreated in the US last session on bearish US manufacturing sector data.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades flat near twelve year highs around 100.20.
USD/CHF also remains underpin on downbeat Swiss retail sales and PPI data which continues to hurt the Swiss currency. Meanwhile, traders now turn their attention towards significant US economic releases as FOMC commences its two-day policy meeting later today.
USD/CHF Technical Levels
To the upside, the next resistance is located at 1.0100 levels and above which it could extend gains to 1.0131 levels. To the downside, immediate support might be located at 1.00 levels and below that at 0.9966 levels.