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).
