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10 Dec 2014
USD/CHF flat, holds above 0.97 handle
FXStreet (Mumbai) - The Swiss currency is trading flat, in a tight range against the US counterpart in a very data-light day. The pair is seen consolidating between the 0.9694 and 0.9725 range.
Currently, the USD/CHF pair trades modestly flat at 0.9704, after having clocked a high of 0.9723 earlier in the day. The Swiss franc gave up gains today after hitting one-week high after dollar bulls went on side lines in the previous session. The Swiss currency is likely to trade cautious against the US dollar as traders look forward to Swiss National Bank (SNB) Monetary Policy Assessment followed by Press conference tomorrow for any hint on rate cut.
USD/CHF Levels to consider
To the upside, the next resistance is located at 0.9719 (200-day SMA) and above which it could extend gains to 0.9738 (50-day SMA) levels. To the downside immediate support might be located at 0.9646 (Dec 4 Low) and below that at 0.9617 (Nov 28 Low) levels.
Currently, the USD/CHF pair trades modestly flat at 0.9704, after having clocked a high of 0.9723 earlier in the day. The Swiss franc gave up gains today after hitting one-week high after dollar bulls went on side lines in the previous session. The Swiss currency is likely to trade cautious against the US dollar as traders look forward to Swiss National Bank (SNB) Monetary Policy Assessment followed by Press conference tomorrow for any hint on rate cut.
USD/CHF Levels to consider
To the upside, the next resistance is located at 0.9719 (200-day SMA) and above which it could extend gains to 0.9738 (50-day SMA) levels. To the downside immediate support might be located at 0.9646 (Dec 4 Low) and below that at 0.9617 (Nov 28 Low) levels.