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10 Feb 2015
USD/CHF stuck in a range
FXStreet (Mumbai) - The USD/CHF pair continues to trade around 0.9200 levels, extending the consolidation seen in the previous week.
Markets await fresh cues
The talk of the Swiss National Bank (SNB) intervening in the FX market pushed the pair to a post-SNB shocker high of 0.9345. However, the rumors slowly subsided as the SNB did not confirm intervention of adoption of a new EUR/CHF corridor. Consequently, the pair has been restricted in a range of 0.93 to 0.9160 since the start of the current month. The pair is currently trading at 0.9235; largely unchanged for the day.
USD/CHF Technical Levels
The immediate support is seen at 0.9168, under which the pair could fall to 0.9035 levels. On the flip side, a rise above 0.9345 shall open doors for 0.9376 (200-DMA) levels.
Markets await fresh cues
The talk of the Swiss National Bank (SNB) intervening in the FX market pushed the pair to a post-SNB shocker high of 0.9345. However, the rumors slowly subsided as the SNB did not confirm intervention of adoption of a new EUR/CHF corridor. Consequently, the pair has been restricted in a range of 0.93 to 0.9160 since the start of the current month. The pair is currently trading at 0.9235; largely unchanged for the day.
USD/CHF Technical Levels
The immediate support is seen at 0.9168, under which the pair could fall to 0.9035 levels. On the flip side, a rise above 0.9345 shall open doors for 0.9376 (200-DMA) levels.