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23 Jan 2015
USD/CHF flat near 0.8730
FXStreet (Edinburgh) - The greenback is trading almost unchanged vs. the Swiss franc on Friday, now pushing USD/CHF to the 0.8725/30 band.
USD/CHF looking to stabilize
Following the SNB unexpected move last week, the pair keeps searching for its ‘fair value’. In the meantime, spot navigates between the low-0.8500s and the 0.8830 area, well below parity, bolstered by the upbeat momentum in the US dollar although the strength surrounding the franc post-SNB seems to cap bullish attempts.
Ahead in the session, Existing Home Sales and the manufacturing PMI tracked by Markit will be the highlights in the US docket.
USD/CHF key levels
At the moment the pair is down 0.07% at 0.8726 with the immediate support at 0.8502 (low Jan.21) followed by 0.8385 (low Jan.16) and then 0.8300 (psychological level). On the upside, a break above 0.8800 (psychological level) would open the door to 0.8835 (high Jan.20) and then 0.9123 (61.8% of 1.0212-0.7360).
USD/CHF looking to stabilize
Following the SNB unexpected move last week, the pair keeps searching for its ‘fair value’. In the meantime, spot navigates between the low-0.8500s and the 0.8830 area, well below parity, bolstered by the upbeat momentum in the US dollar although the strength surrounding the franc post-SNB seems to cap bullish attempts.
Ahead in the session, Existing Home Sales and the manufacturing PMI tracked by Markit will be the highlights in the US docket.
USD/CHF key levels
At the moment the pair is down 0.07% at 0.8726 with the immediate support at 0.8502 (low Jan.21) followed by 0.8385 (low Jan.16) and then 0.8300 (psychological level). On the upside, a break above 0.8800 (psychological level) would open the door to 0.8835 (high Jan.20) and then 0.9123 (61.8% of 1.0212-0.7360).