Back
11 Sep 2015
USD/CHF falters ahead of 0.9800
FXStreet (Córdoba) - USD/CHF advanced sharply during the European session and managed to snap 2-day losing streak, underpinned by EUR/CHF strong rally.
The franc weakened broadly on Friday, with USD/CHF turning positive for the week and EUR/CHF climbing above 1.10 for first time since the SNB removed the cap back in January.
However, USD/CHF advance was capped by the 0.9800 area, confining the pair to a phase of consolidation over the last hours. At time of writing, USD/CHF is trading at 0.9775, recording a 0.46% daily gain, and having scored a peak of 0.9795.
USD/CHF levels to watch
In terms of technical levels, immediate resistances are seen at 0.9800 (psychological level), 0.9823 (Sep 9 high) and 0.9889 (Aug 12 high). On the flip side, supports could be found at 0.9700 (Sep 10 low/psychological level), 0.9680 (Sep 3 low) and 0.9650 (21-day SMA).
The franc weakened broadly on Friday, with USD/CHF turning positive for the week and EUR/CHF climbing above 1.10 for first time since the SNB removed the cap back in January.
However, USD/CHF advance was capped by the 0.9800 area, confining the pair to a phase of consolidation over the last hours. At time of writing, USD/CHF is trading at 0.9775, recording a 0.46% daily gain, and having scored a peak of 0.9795.
USD/CHF levels to watch
In terms of technical levels, immediate resistances are seen at 0.9800 (psychological level), 0.9823 (Sep 9 high) and 0.9889 (Aug 12 high). On the flip side, supports could be found at 0.9700 (Sep 10 low/psychological level), 0.9680 (Sep 3 low) and 0.9650 (21-day SMA).