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Trading news
24 Apr 2015
USD/CHF in red near 0.9540
FXStreet (Mumbai) - USD/CHF keeps losses in the early European morning, largely on broad USD weakness while short-covering rally cushions the downside.
USD/CHF supported at 0.9525
Currently, the USD/CHF trades flat at 0.9542, retreating from a dip to fresh session lows posted at 0.9525 some time ago. The pair recovered losses and tries to fight its way back higher mainly driven by a profit-booking rally after the pair fell amid sluggish updates from the US housing and labor markets.
The pair stands resilient amid a broad US dollar sell-off and a stronger euro across the board. The US dollar index which measures the relative strength of the greenback against a basket of six major currencies languishes near lows at 97.04. down -0.38% on the day.
Meanwhile, the US dollar may remain the major driver for the pair today ahead of fresh batch of US macro data due later in the session.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9575 levels and above which it could extend gains to 0.9600 levels. To the downside, immediate support might be located at 0.9525 levels and below that at 0.9477 levels.
USD/CHF supported at 0.9525
Currently, the USD/CHF trades flat at 0.9542, retreating from a dip to fresh session lows posted at 0.9525 some time ago. The pair recovered losses and tries to fight its way back higher mainly driven by a profit-booking rally after the pair fell amid sluggish updates from the US housing and labor markets.
The pair stands resilient amid a broad US dollar sell-off and a stronger euro across the board. The US dollar index which measures the relative strength of the greenback against a basket of six major currencies languishes near lows at 97.04. down -0.38% on the day.
Meanwhile, the US dollar may remain the major driver for the pair today ahead of fresh batch of US macro data due later in the session.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9575 levels and above which it could extend gains to 0.9600 levels. To the downside, immediate support might be located at 0.9525 levels and below that at 0.9477 levels.