8 Apr 2015
USD/CHF holds above 0.9600, trims losses
FXStreet (Córdoba) - USD/CHF recently reached 0.9644, erasing most of the losses as the US dollar climbed across the board, after Wall Street opening bell and following comments from William Dudley, president of the New York Federal Reserve Bank. He considers reasonable to expect a rate increase this year.
The pair bottomed during the European session at 0.9597, weakened after inflation data from Switzerland. The CPI rose in March 0.3% above the 0.2% expected. Price was rejected from below 0.9600 and then greenback gained momentum.
Currently trades at 0.9635/40, down 0.22% for the day, but far from the lows and closer to daily highs that lie at 0.9665. If it rises further, resistance levels might lie at 0.9675 (Apr 7 high) and 0.9695 (Mar 24, 27 high). On the opposite direction the area round 0.9600 has become an important short term support zone.
The pair bottomed during the European session at 0.9597, weakened after inflation data from Switzerland. The CPI rose in March 0.3% above the 0.2% expected. Price was rejected from below 0.9600 and then greenback gained momentum.
Currently trades at 0.9635/40, down 0.22% for the day, but far from the lows and closer to daily highs that lie at 0.9665. If it rises further, resistance levels might lie at 0.9675 (Apr 7 high) and 0.9695 (Mar 24, 27 high). On the opposite direction the area round 0.9600 has become an important short term support zone.