USD/CHF Hits 1-Week High, Nears 0.9700

USD/CHF Hits 1-Week High, Nears 0.9700

5 May 2016, 18:02
Roberto Jacobs
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USD/CHF Hits 1-Week High, Nears 0.9700

The US dollar extended its rally versus the franc during the New York session, reaching its highest level in a week, just a few pips below the 0.97 mark.

USD/CHF continued to recover from an 8-month low of 0.9443 struck earlier this week, and reached a weekly peak of 0.9685 in recent dealings, as the greenback outperforms against European currencies. At time of writing, the pair was trading at 0.9685, recording a 1.14% gain on Thursday.

USD/CHF technical levels

In terms of technical levels, next resistances are seen at 0.9700 (psychological level), 0.9725 (50-day SMA) and 0.9765 (Apr 26 high). On the flip side, immediate supports could be faced at 0.9640 (20-day SMA), 0.9568 (May 5 low) and 0.9532 (May 4 low).


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