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8 Jan 2015
USD/CHF extends its Winning streak
FXStreet (Mumbai) - The US dollar extended gains against the Swiss franc today, trading near four and a half year high levels, on increased USD bets as traders speculate that the first monetary policy tightening in the world's largest economy is on the horizon.
Currently, the USD/CHF hit fresh daily highs at 1.0163 levels, gaining 0.17% on the day. The US dollar strengthened against the major amid expectations that an interest rate lift-off by the Federal Reserve is approaching in reaction to Fed’s minutes released yesterday. The US dollar index, measuring the relative strength of the greenback against a basket of six major currencies, rallied close to fresh nine-year highs levels and trades now at 92.42, up 0.22% on the day.
USD/CHF Technical Levels
To the upside, the next resistance is located at 1.0290 (Jan 5 High) and above which it could extend gains to 1.0350 levels. To the downside, immediate support might be located at 1.0109 (Today’s Low) levels and below that at 1.0 levels.
Currently, the USD/CHF hit fresh daily highs at 1.0163 levels, gaining 0.17% on the day. The US dollar strengthened against the major amid expectations that an interest rate lift-off by the Federal Reserve is approaching in reaction to Fed’s minutes released yesterday. The US dollar index, measuring the relative strength of the greenback against a basket of six major currencies, rallied close to fresh nine-year highs levels and trades now at 92.42, up 0.22% on the day.
USD/CHF Technical Levels
To the upside, the next resistance is located at 1.0290 (Jan 5 High) and above which it could extend gains to 1.0350 levels. To the downside, immediate support might be located at 1.0109 (Today’s Low) levels and below that at 1.0 levels.