12 Feb 2015
Swiss Franc shows signs of strength
FXStreet (Mumbai) - The Swiss Franc advanced against its US counterpart, taking the USD/CHF pair down to 0.9249 levels, although the pair has recovered slightly to 0.9260 levels.
Another safe haven restricted in a range
The Swiss Franc too, has failed so far to strengthen despite the Greece-led uncertainty and tension in Ukraine. Almost all of the traditional safe haven assets like Gold, the Japanese Yen and the US Treasuries have failed to strengthen.
The Swiss Franc has been restricted largely in a range of 0.9280-0.9180 since the beginning of the current month. Moreover, the speculation over Swiss National Bank’s new EUR/CHF corridor and strong jobs data in the US may have capped gains in the Swiss Franc.
USD/CHF Technical Levels
The immediate resistance is seen at 0.9280, above which gains could be extended to 0.9338 (Fed. 2nd high). On the flip side, support is seen at 0.9253 (10-DMA) and 0.9168 (Feb. 6th low).
Another safe haven restricted in a range
The Swiss Franc too, has failed so far to strengthen despite the Greece-led uncertainty and tension in Ukraine. Almost all of the traditional safe haven assets like Gold, the Japanese Yen and the US Treasuries have failed to strengthen.
The Swiss Franc has been restricted largely in a range of 0.9280-0.9180 since the beginning of the current month. Moreover, the speculation over Swiss National Bank’s new EUR/CHF corridor and strong jobs data in the US may have capped gains in the Swiss Franc.
USD/CHF Technical Levels
The immediate resistance is seen at 0.9280, above which gains could be extended to 0.9338 (Fed. 2nd high). On the flip side, support is seen at 0.9253 (10-DMA) and 0.9168 (Feb. 6th low).