Back
29 Sep 2014
USD/CHF consolidates near 14-month highs above 0.9500
FXStreet (Córdoba) - USD/CHF entered a consolidation phase after hitting fresh 14-month high as the dollar continues to build gains across the board.
USD/CHF opened the week little changed but then advanced to its highest level since July 2013 at 0.9531 following comments from SNB Jordan saying that negative interest rates remain a possibility if deflation risks increase. However, the pair failed to break decisively above that level and pulled back. At time of writing, USD/CHF is trading at 0.9510, little changed on the day.
USD/CHF technical levels
In terms of technical levels, USD/CHF could find immediate resistances at 0.9531/33 (Sept 29 & Jul 15 highs), 0.9593 (Jul 11 high) and 0.9600 (psychological level). On the flip side, supports are seen a 0.9505/00 (intraday low/psychological level), 0.9459 (Sept 26 low) and 0.9400 (psychological level).
USD/CHF opened the week little changed but then advanced to its highest level since July 2013 at 0.9531 following comments from SNB Jordan saying that negative interest rates remain a possibility if deflation risks increase. However, the pair failed to break decisively above that level and pulled back. At time of writing, USD/CHF is trading at 0.9510, little changed on the day.
USD/CHF technical levels
In terms of technical levels, USD/CHF could find immediate resistances at 0.9531/33 (Sept 29 & Jul 15 highs), 0.9593 (Jul 11 high) and 0.9600 (psychological level). On the flip side, supports are seen a 0.9505/00 (intraday low/psychological level), 0.9459 (Sept 26 low) and 0.9400 (psychological level).