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2 Mar 2015
USD/CHF trades around flatline above 0.9550
FXStreet (Mumbai) - USD/CHF remains well bid above 0.9500 levels in the early European morning, extending its choppy trend from the previous session on the back of a firmer US dollar against most of its peers.
USD/CHF trades above 100-DMA
Currently, the USD/CHF trades modestly flat at 0.9550 levels, hovering close to six-week highs posted at 0.9560 levels some time ago. The pair remained buoyed by events in the world's leading economy released last Friday which were mostly dollar-positive. The US dollar index, which measures the relative strength of the greenback against six major currencies, sits close to multi-year highs at 95.40 levels, up 0.12% on the day.
Meanwhile, USD/CHF extends its recovery mode after the revocation of a cap rate on EUR/CHF and general intraday upside bias persists on USD strength until 0.9528 (5-DMA) levels is breached ahead of US manufacturing reading due later in the day.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9560 levels and above which it could extend gains to 0.9600 levels. To the downside, immediate support might be located at 0.9528 (5-DMA) levels and below that at 0.9495 (10-DMA) levels.
USD/CHF trades above 100-DMA
Currently, the USD/CHF trades modestly flat at 0.9550 levels, hovering close to six-week highs posted at 0.9560 levels some time ago. The pair remained buoyed by events in the world's leading economy released last Friday which were mostly dollar-positive. The US dollar index, which measures the relative strength of the greenback against six major currencies, sits close to multi-year highs at 95.40 levels, up 0.12% on the day.
Meanwhile, USD/CHF extends its recovery mode after the revocation of a cap rate on EUR/CHF and general intraday upside bias persists on USD strength until 0.9528 (5-DMA) levels is breached ahead of US manufacturing reading due later in the day.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9560 levels and above which it could extend gains to 0.9600 levels. To the downside, immediate support might be located at 0.9528 (5-DMA) levels and below that at 0.9495 (10-DMA) levels.