30 Apr 2015
USD/CHF back below 0.94
FXStreet (Mumbai) - USD/CHF swings between gains and losses and now trades dead flat below 0.94 handle in the European morning, retreating from fresh session highs reached at 0.9420 after the KOF Swiss Economic Barometer fell in April. While persistent broad based US dollar weakness dragged the pair lower.
USD/CHF drops from 0.9420
Currently, the USD/CHF trades flat at 0.9388, once again returning below 0.94 barrier. The pair erased previous and turned mildly in red as markets moved past weak Swiss data which lifted the pair above 0.94 handle.
The KOF economic research institute reported the gauge at 89.5 for April, missing expectations of 91.45. Thursday's measure follows 90.9 in March, and 90.1 in February, when the Swiss National Bank (SNB) abandoned the franc's currency peg to the euro.
USD/CHF edged lower now as the offered tone in the US dollar versus its major competitors caused the pair to give back previous gains and slip back in to red.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9420 levels and above which it could extend gains to 0.9454 levels. To the downside, immediate support might be located at 0.9327 levels and below that at 0.9300 levels.
USD/CHF drops from 0.9420
Currently, the USD/CHF trades flat at 0.9388, once again returning below 0.94 barrier. The pair erased previous and turned mildly in red as markets moved past weak Swiss data which lifted the pair above 0.94 handle.
The KOF economic research institute reported the gauge at 89.5 for April, missing expectations of 91.45. Thursday's measure follows 90.9 in March, and 90.1 in February, when the Swiss National Bank (SNB) abandoned the franc's currency peg to the euro.
USD/CHF edged lower now as the offered tone in the US dollar versus its major competitors caused the pair to give back previous gains and slip back in to red.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9420 levels and above which it could extend gains to 0.9454 levels. To the downside, immediate support might be located at 0.9327 levels and below that at 0.9300 levels.