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5 Feb 2015
USD/CHF trades below 5-DMA
FXStreet (Mumbai) - USD/CHF recovered partial losses from the Asian session and continued to trade in a narrow range as traders resorted to profit-taking post the macro-data led surge in the US last session.
Recovers from daily lows at 0.9226 levels
Currently, the USD/CHF traded -0.26% lower at 0.9240 levels, having previously posted day’s highs at 0.9265 levels. The pair edged lower largely as traders booked profits on their long positions after the greenback rallied against the Swiss franc on better than forecast US services PMI report. USD/CHF is likely to remains pressured ahead of the crucial US NFP data due for release tomorrow.
Meanwhile, USD/CHF extends its recovery mode after the revocation of a cap rate on EUR/CHF and general intraday downtrend persists as long as the 0.9265 is breached.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9300 levels and above which it could extend gains to 0.9350 levels. To the downside, immediate support might be located at 0.9100 levels and below that at 0.9058 levels.
Recovers from daily lows at 0.9226 levels
Currently, the USD/CHF traded -0.26% lower at 0.9240 levels, having previously posted day’s highs at 0.9265 levels. The pair edged lower largely as traders booked profits on their long positions after the greenback rallied against the Swiss franc on better than forecast US services PMI report. USD/CHF is likely to remains pressured ahead of the crucial US NFP data due for release tomorrow.
Meanwhile, USD/CHF extends its recovery mode after the revocation of a cap rate on EUR/CHF and general intraday downtrend persists as long as the 0.9265 is breached.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9300 levels and above which it could extend gains to 0.9350 levels. To the downside, immediate support might be located at 0.9100 levels and below that at 0.9058 levels.