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2 Dec 2014
USD/CHF testing yesterday’s highs
FXStreet (Córdoba) - USD/CHF rose constantly since the beginning of the day and printed a fresh daily high at 0.9686 after the release of inflation data from the Eurozone, level located just one pip below yesterday’s high.
According to Eurostat, the Producer Price Index fell 0.4% in October from the previous month; a smaller decline (0.3%) was expected by market consensus. The swiss Franc fell modestly after the report extending losses across the board. The currency is among the worst performers on Tuesday, dropping even against the euro. EUR/CHF rose above 1.2040 reaching the strongest level in a month.
USD/CHF levels to watch
On Monday the decline of the pair found support at 0.9615 during the American session and rebounded. Currently is testing the area around 0.9690; and a break higher is likely to expose 0.9700; above the next resistance might lie at 0.9735/40 (2014 highs).
On the downside, support could be located at 0.9655 (Asian session high), 0.9640 (daily low) and 0.9615 (Dec 1 low).
According to Eurostat, the Producer Price Index fell 0.4% in October from the previous month; a smaller decline (0.3%) was expected by market consensus. The swiss Franc fell modestly after the report extending losses across the board. The currency is among the worst performers on Tuesday, dropping even against the euro. EUR/CHF rose above 1.2040 reaching the strongest level in a month.
USD/CHF levels to watch
On Monday the decline of the pair found support at 0.9615 during the American session and rebounded. Currently is testing the area around 0.9690; and a break higher is likely to expose 0.9700; above the next resistance might lie at 0.9735/40 (2014 highs).
On the downside, support could be located at 0.9655 (Asian session high), 0.9640 (daily low) and 0.9615 (Dec 1 low).