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6 Aug 2015
USD/CHF sits at 4-month highs beyond 0.9800
FXStreet (Mumbai) - The Swiss currency was relentless sold-off versus the US dollar in the European session, pushing USD/CHF to fresh four-month highs beyond 0.98 handle, as markets continue to favour the US dollar ahead of a key US jobs reports.
USD/CHF rises from 0.9769
Currently, the USD/CHF pair trades 0.41% higher at 0.9830, hovering close to fresh multi-month highs of 0.9841. The USD/CHF pair prolongs its winning streak as the Swiss currency was broadly sold-off as traders continued to the softer price pressures print released in Switzerland on Wednesday.
Swiss CPI figures which revealed that consumer prices in Switzerland failed to rebound in July and slid into negative territory on a monthly basis as well.
Moreover, broad based USD strength following surprisingly upbeat US services sector PMIs adds further to the rate hike case this Sept. The US dollar index, which measures the relative strength of the greenback against its major competitors, is posting modest gains now at 98.01.
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USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9850 levels and above which it could extend gains 0.9866 levels. To the downside, immediate support might be located at 0.9769 (Today’s Low) levels and below that at 0.9700 levels.
USD/CHF rises from 0.9769
Currently, the USD/CHF pair trades 0.41% higher at 0.9830, hovering close to fresh multi-month highs of 0.9841. The USD/CHF pair prolongs its winning streak as the Swiss currency was broadly sold-off as traders continued to the softer price pressures print released in Switzerland on Wednesday.
Swiss CPI figures which revealed that consumer prices in Switzerland failed to rebound in July and slid into negative territory on a monthly basis as well.
Moreover, broad based USD strength following surprisingly upbeat US services sector PMIs adds further to the rate hike case this Sept. The US dollar index, which measures the relative strength of the greenback against its major competitors, is posting modest gains now at 98.01.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9850 levels and above which it could extend gains 0.9866 levels. To the downside, immediate support might be located at 0.9769 (Today’s Low) levels and below that at 0.9700 levels.