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15 May 2015
USD/CHF hits fresh highs above 0.9200
FXStreet (Mumbai) - The US dollar snapped its three-day downward rally and bounced-back sharply during the European session, driving USD/CHF beyond 0.92 handle, mainly driven by a solid come back staged by the greenback versus its major peers. While sharp drop in Swiss factory gate prices weighed on the Swiss currency, pushing the major higher.
USD/CHF rises along with USD
Currently, the USD/CHF rose nearly 1% and trades at fresh two-day highs of 0.9209. The pair rallied about 100pips this session largely on the back of an extended recovery seen in the US dollar across the board. The US dollar index (DXY) which measures the relative strength of the greenback versus six major currencies now trades at session highs of 93.87, up 0.50% on the day.
Moreover, weak Swiss PPI print earlier this session which showed that factory gate prices tumbled worse than expected to -2.1% in April from a rise of 0.2% seen in March, hurt the Swiss franc, thereby boosting USD/CHF.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9231 levels and above which it could extend gains to 0.9280 levels. To the downside, immediate support might be located at 0.9149 levels and below that at 0.9115 levels.
USD/CHF rises along with USD
Currently, the USD/CHF rose nearly 1% and trades at fresh two-day highs of 0.9209. The pair rallied about 100pips this session largely on the back of an extended recovery seen in the US dollar across the board. The US dollar index (DXY) which measures the relative strength of the greenback versus six major currencies now trades at session highs of 93.87, up 0.50% on the day.
Moreover, weak Swiss PPI print earlier this session which showed that factory gate prices tumbled worse than expected to -2.1% in April from a rise of 0.2% seen in March, hurt the Swiss franc, thereby boosting USD/CHF.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9231 levels and above which it could extend gains to 0.9280 levels. To the downside, immediate support might be located at 0.9149 levels and below that at 0.9115 levels.