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5 Jan 2015
Swiss Franc sits at multi-year lows versus USD
FXStreet (Mumbai) - The US dollar continues its upward trajectory against the Swiss franc in the mid- European session, as Grexit talks pushed the EUR/USD pair to nine-year lows, which in turn pushed USD/CHF higher.
Currently, the USD/CHF pair trades 0.46% higher on the day at 1.0062 levels, marching towards fresh four year highs at 1.0077 levels earlier in the day. USD/CHF continued its uptrend on broad based US dollar strength against its peers after Germany announced it won't be politically blackmailed by Greece again. Moreover, the euro zone should be prepared for Greece leaving the euro area, if the country decides to exit the 19-nation bloc.
In the day ahead, the Swiss franc is likely to fall further, following the falls in the EUR/USD pair as markets expect European Central Bank to consider a full-blown quantitative easing program to be announced on January 22 at the central bank's next meeting.
USD/CHF Levels to consider
To the upside, the next resistance is located at 1.0077 (Today’s High) levels and above which it could extend gains to 1.0150 (Sept 2010) levels. To the downside immediate support might be located at 1.0 level and below that at 0.9950 levels.
Currently, the USD/CHF pair trades 0.46% higher on the day at 1.0062 levels, marching towards fresh four year highs at 1.0077 levels earlier in the day. USD/CHF continued its uptrend on broad based US dollar strength against its peers after Germany announced it won't be politically blackmailed by Greece again. Moreover, the euro zone should be prepared for Greece leaving the euro area, if the country decides to exit the 19-nation bloc.
In the day ahead, the Swiss franc is likely to fall further, following the falls in the EUR/USD pair as markets expect European Central Bank to consider a full-blown quantitative easing program to be announced on January 22 at the central bank's next meeting.
USD/CHF Levels to consider
To the upside, the next resistance is located at 1.0077 (Today’s High) levels and above which it could extend gains to 1.0150 (Sept 2010) levels. To the downside immediate support might be located at 1.0 level and below that at 0.9950 levels.