30 Apr 2014
USD/CHF reverses intraday gains
FXStreet (Córdoba) - The USD/CHF fell to negative ground for the day as the franc strengthened in tandem with the euro following Eurozone CPI data.
The USD/CHF fell from a weekly high of 0.8850 to a fresh daily low of 0.8813 in recent dealings.The pair is currently trading at 0.8815, recording a 0.17% loss on the day after a positive start. Given the SNB policy of maintaining a peg on the EUR/CHF, there is a strong correlation between the euro and the franc.
USD/CHF levels to watch
In terms of technical levels, the USD/CHF could find next supports at 0.8813 (Apr 30 low/50-hour SMA) and 0.8800 (psychological level). On the other hand, resistances are now seen at 0.8850 (Apr 30 high) and 0.8861 (Apr 22 high) ahead of 0.8900/03 (psychological level/100-day SMA).
The USD/CHF fell from a weekly high of 0.8850 to a fresh daily low of 0.8813 in recent dealings.The pair is currently trading at 0.8815, recording a 0.17% loss on the day after a positive start. Given the SNB policy of maintaining a peg on the EUR/CHF, there is a strong correlation between the euro and the franc.
USD/CHF levels to watch
In terms of technical levels, the USD/CHF could find next supports at 0.8813 (Apr 30 low/50-hour SMA) and 0.8800 (psychological level). On the other hand, resistances are now seen at 0.8850 (Apr 30 high) and 0.8861 (Apr 22 high) ahead of 0.8900/03 (psychological level/100-day SMA).