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15 May 2013
Forex: USD/CHF jumps to fresh 9-month highs above 0.96
FXstreet.com (Barcelona) - USD/CHF is currently at 0.9653, off fresh 9-month highs at 0.9677, printed by the NY close on the back of broad USD demand. EUR/CHF breaking above the 1.25 level posting a fresh almost 4-month highs at 1.2506 has added to Swiss Franc weakness. The pair is up +0.86% for the week so far, while adding +5.42% gains since year started.
“USD/CHF is the lead pair of the moment and important technical resistance at .9550 has been well and truly breached,” FXWW founder Sean Lee points out, adding: “The obvious technical target is a daily high just below 1.00 and support should be firm now between .9500/50. I don’t believe that many players are on this move yet which should allow it to pick up bullish momentum quite quickly,” he suggests.
Immediate resistance to the upside for USD/CHF shows at recent fresh 9-month highs 0.9677, followed by July 27 lows at 0.9691, and July 17 lows at 0.9743. To the downside, closest support lies at Friday's highs 0.9629, followed by Monday's highs at 0.9597, and Monday's lows at 0.9545.
“USD/CHF is the lead pair of the moment and important technical resistance at .9550 has been well and truly breached,” FXWW founder Sean Lee points out, adding: “The obvious technical target is a daily high just below 1.00 and support should be firm now between .9500/50. I don’t believe that many players are on this move yet which should allow it to pick up bullish momentum quite quickly,” he suggests.
Immediate resistance to the upside for USD/CHF shows at recent fresh 9-month highs 0.9677, followed by July 27 lows at 0.9691, and July 17 lows at 0.9743. To the downside, closest support lies at Friday's highs 0.9629, followed by Monday's highs at 0.9597, and Monday's lows at 0.9545.