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3 Sep 2015
USD/CHF sits at fresh 2-week highs near 0.9700
FXStreet (Mumbai) - The US dollar regained footing versus the Swiss currency in the mid-European trades, after bottoming near 0.9680 area in the early dealings, as traders now look forward to the New York session for further updates.
CHF tracks EUR ahead of ECB
Currently, the USD/CHF pair trades modestly flat at 0.9698, hovering around fresh 2-week highs reached at 0.9709. The USD/CHF pair trades listless as markets were seen in a wait-and-see mode before the rate decision from the ECB, as any impact on the euro as a result of the ECB outcome could also influence the Swiss franc.
Meanwhile, the US dollar trades around a flat line versus its major counterparts, with US jobs report, trade balance and ISM non-manufacturing PMI in focus. The US dollar index, a virtual gauge of greenback’s relative strength trades flat at 95.87.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9727 (July 30 High) levels and above which it could extend gains 0.9785 (Aug 19 High) levels. To the downside, immediate support might be located at 0.9640 (Aug 19 Low) levels and below that at 0.9583 (Aug 31 Low) levels.
CHF tracks EUR ahead of ECB
Currently, the USD/CHF pair trades modestly flat at 0.9698, hovering around fresh 2-week highs reached at 0.9709. The USD/CHF pair trades listless as markets were seen in a wait-and-see mode before the rate decision from the ECB, as any impact on the euro as a result of the ECB outcome could also influence the Swiss franc.
Meanwhile, the US dollar trades around a flat line versus its major counterparts, with US jobs report, trade balance and ISM non-manufacturing PMI in focus. The US dollar index, a virtual gauge of greenback’s relative strength trades flat at 95.87.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9727 (July 30 High) levels and above which it could extend gains 0.9785 (Aug 19 High) levels. To the downside, immediate support might be located at 0.9640 (Aug 19 Low) levels and below that at 0.9583 (Aug 31 Low) levels.