USD/CHF jumps to 0.9450 amid a weak Swiss franc

• USD gains momentum as Wall Street rallies. 
• CHF drops also versus EUR and GBP. 

The USD/CHF pair is rising sharply above 0.9400. Recently broke above 0.9415 and jumped to 0.9449, reaching the highest level since January 25. The move to the upside was supported by weakens in the CHF and a rally of the US dollar. 

In Wall Street, the Dow Jones was up almost 1% despite the 1.7% decline in the WTI barrel. The positive tone in US markets didn’t boost the demand for high-yielding currencies. 

Also, before the US dollar extended gain, the Swiss franc was lagging. EUR/CHF was up, above 1.1600. Even the pound was rising against the Swissy: GBP/CHF climbed above 1.3100. 

Technical levels 

To the upside, immediate resistance is seen at 0.9450, followed by 0.9465 (Jan 25 high), 0.9500 and 0.9535 (Jan 19 low). On the flip side, supports might lie at 0.9395 (Feb 6 high), 0.9360 and 0.9335 (Feb 7 low).