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11 Mar 2015
USD/CHF retesting 1.00
FXStreet (Mumbai) - USD/CHF retreated and traded below 1.00 barrier in the European morning, as traders took to profit taking after the pair rallied to almost parity, the highest level since the Swiss National Bank (SNB) removed its cap against the euro currency.
USD/CHF faces rejection at 1.00 handle
Currently, the USD/CHF trades lower by -0.10% at 0.9988 levels, having reached fresh two months high at 1.00 in the previous session. The pair inched lower this morning as traders locked-in gains on USD/CHF longs after the USD bulls pushed the cross to 2 pips below parity amid increased expectations that the Fed will probably drop "patient" from its vocabulary at its next meeting and hint at a probable June rate-hike.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies jumped to fresh twelve year highs at 98.86 and now trades at 98.68 levels, recording a 0.08% gain on the day.
USD/CHF Technical Levels
To the upside, the next resistance is located at 1.00 levels and above which it could extend gains to 1.0221 levels. To the downside, immediate support might be located at 0.9900 levels and below that at 0.9888 levels.
USD/CHF faces rejection at 1.00 handle
Currently, the USD/CHF trades lower by -0.10% at 0.9988 levels, having reached fresh two months high at 1.00 in the previous session. The pair inched lower this morning as traders locked-in gains on USD/CHF longs after the USD bulls pushed the cross to 2 pips below parity amid increased expectations that the Fed will probably drop "patient" from its vocabulary at its next meeting and hint at a probable June rate-hike.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies jumped to fresh twelve year highs at 98.86 and now trades at 98.68 levels, recording a 0.08% gain on the day.
USD/CHF Technical Levels
To the upside, the next resistance is located at 1.00 levels and above which it could extend gains to 1.0221 levels. To the downside, immediate support might be located at 0.9900 levels and below that at 0.9888 levels.