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11 Dec 2014
USD/CHF rebounds, SNB Monetary Policy Assessment eyed
FXStreet (Mumbai) - The US dollar bounced back against the Swiss counterpart, snapping three days of losses as markets look forward to the Swiss National Bank (SNB) Monetary Policy Assessment followed by Press conference tomorrow for any hint on rate cut.
Currently, the USD/CHF pair trades steady at 0.9671, after having clocked a high of 0.9679 earlier in the day. The Swiss franc gave up gains as dollar bulls jumped back into the bid as the greenback regained strength against other currencies. The pair also gained support as EUR/USD trades lower ahead 2nd round of TLTRO.
USD/CHF Levels to consider
To the upside, the next resistance is located at 0.9689 (Dec 1 High) and above which it could extend gains to 0.9724 (Dec 10 High) levels. To the downside immediate support might be located at 0.9638 (Dec 2 Low) and below that at 0.9617 (Nov 28 Low) levels.
Currently, the USD/CHF pair trades steady at 0.9671, after having clocked a high of 0.9679 earlier in the day. The Swiss franc gave up gains as dollar bulls jumped back into the bid as the greenback regained strength against other currencies. The pair also gained support as EUR/USD trades lower ahead 2nd round of TLTRO.
USD/CHF Levels to consider
To the upside, the next resistance is located at 0.9689 (Dec 1 High) and above which it could extend gains to 0.9724 (Dec 10 High) levels. To the downside immediate support might be located at 0.9638 (Dec 2 Low) and below that at 0.9617 (Nov 28 Low) levels.