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27 Aug 2015
USD/CHF off highs, near 0.9540
FXStreet (Mumbai) - The USD/CHF pair breathed a sigh of relief and peeked into the green zone during the mid-European session, as the US dollar resumed its upward rally ahead of the key US GDP report.
USD/CHF rises from 0.9513
Currently, the USD/CHF pair trades -0.09% at 0.9538, recovering from 0.9513 session lows. The USD/CHF pair erased most losses on the back of fresh buying interest seen around the greenback as traders gear up for the much awaited US growth numbers due for release ahead of the US open.
Moreover, the Swiss franc gave up gains tracking losses seen in the common currency as demand for risk currencies continues to dent the traditional safe havens such as CHF, EUR etc.
Meanwhile, the latest comments by Fed’s George are read by markets as slightly hawkish supporting further upmoves in the USD versus its Swiss counterpart.
Later in the day, the pair may receive fresh cues from the upcoming US Q2 GDP results while expected to be dollar positive.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9552 (Today’s High) levels and above which it could extend gains 0.9600 (Aug 21 High) levels. To the downside, immediate support might be located at 0.9513 (Today’s Low) levels and below that at 0.9456 (Aug 21 Low) levels.
USD/CHF rises from 0.9513
Currently, the USD/CHF pair trades -0.09% at 0.9538, recovering from 0.9513 session lows. The USD/CHF pair erased most losses on the back of fresh buying interest seen around the greenback as traders gear up for the much awaited US growth numbers due for release ahead of the US open.
Moreover, the Swiss franc gave up gains tracking losses seen in the common currency as demand for risk currencies continues to dent the traditional safe havens such as CHF, EUR etc.
Meanwhile, the latest comments by Fed’s George are read by markets as slightly hawkish supporting further upmoves in the USD versus its Swiss counterpart.
Later in the day, the pair may receive fresh cues from the upcoming US Q2 GDP results while expected to be dollar positive.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9552 (Today’s High) levels and above which it could extend gains 0.9600 (Aug 21 High) levels. To the downside, immediate support might be located at 0.9513 (Today’s Low) levels and below that at 0.9456 (Aug 21 Low) levels.