27 Jan 2015
USD/CHF rises above 0.91
FXStreet (Mumbai) - The USD/CHF pair shot higher during the European session on rumors of intervention from the Swiss National Bank (SNB).
The pair now trades 1.06% higher at 0.9126 levels. The weakness in the Franc after a Swiss newspaper quoted SNB’s Danthine saying that the bank is ready to intervene in the FX markets. Mr. Danthine also said that the current level of the EUR/CHF was not justified. Moreover, 1.1000 is being touted as a manageable level of EUR/CHF pair by Swiss officials and Mr Danthine’s comments today have only added fuel to the fire. Consequently, the Swiss franc pairs have shot higher, with USD/CHF trading at 0.9160 levels at one point of time.
USD/CHF Technical Levels
The immediate resistance is seen at 0.9132 and 0.9160 levels. On the other hand, support is seen at 0.91 and 0.9035 levels.
The pair now trades 1.06% higher at 0.9126 levels. The weakness in the Franc after a Swiss newspaper quoted SNB’s Danthine saying that the bank is ready to intervene in the FX markets. Mr. Danthine also said that the current level of the EUR/CHF was not justified. Moreover, 1.1000 is being touted as a manageable level of EUR/CHF pair by Swiss officials and Mr Danthine’s comments today have only added fuel to the fire. Consequently, the Swiss franc pairs have shot higher, with USD/CHF trading at 0.9160 levels at one point of time.
USD/CHF Technical Levels
The immediate resistance is seen at 0.9132 and 0.9160 levels. On the other hand, support is seen at 0.91 and 0.9035 levels.