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16 Dec 2014
USD/CHF trades close to 17-month High
FXStreet (Mumbai) - The Swiss franc managed to trade slightly higher against the US dollar, however remained close to 17-month low of 0.9676 levels posted in the previous session.
Currently, the USD/CHF pair is seen trading up at 0.9642 levels, down -0.13%, compared to previous session’s close of 0.9657 levels. The Swiss currency recovered modestly against the greenback today as traders now eye Fed's two-day monetary policy meeting that begins today. Investors are likely to pay close attention to Fed’s language as “considerable time” phrase may be replaced with one that relates to the timing of US interest rate hike decision.
USD/CHF Levels to consider
To the upside, the next resistance is located at 0.9653 (20-day SMA) and above which it could extend gains to 0.9667 (100-day SMA) levels. To the downside immediate support might be located at 0.9638 (Dec 2 Low) and below that at 0.9617 (Nov 28 Low) levels.
Currently, the USD/CHF pair is seen trading up at 0.9642 levels, down -0.13%, compared to previous session’s close of 0.9657 levels. The Swiss currency recovered modestly against the greenback today as traders now eye Fed's two-day monetary policy meeting that begins today. Investors are likely to pay close attention to Fed’s language as “considerable time” phrase may be replaced with one that relates to the timing of US interest rate hike decision.
USD/CHF Levels to consider
To the upside, the next resistance is located at 0.9653 (20-day SMA) and above which it could extend gains to 0.9667 (100-day SMA) levels. To the downside immediate support might be located at 0.9638 (Dec 2 Low) and below that at 0.9617 (Nov 28 Low) levels.