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16 Apr 2014
USD/CHF at weekly highs
FXStreet (Córdoba) - The USD/CHF climbed to fresh weekly highs during the American session as the dollar gathered pace versus the euro and the franc, which are highly correlated.
The USD/CHF broke above the 0.8715 zone and advanced toward a 1-week high of 0.8826 before finding resistance and losing steam. In the macroeconomic domain, solid US industrial output (0.7% versus 0.5% expected) helped to underpin the dollar.
USD/CHF levels to watch
At time of writing, the USD/CHF is trading at the 0.8810, recording a 0.13% gain on the day, with immediate resistances at 0.8826 (Apr 16 high), 0.8834 (21-day SMA) and 0.8845 (Apr 9 high). On the flip side, supports are seen at 0.8780 (Apr 16 low), 0.8762 (Apr 14 low) and 0.8743 (Apr 11 low).
The USD/CHF broke above the 0.8715 zone and advanced toward a 1-week high of 0.8826 before finding resistance and losing steam. In the macroeconomic domain, solid US industrial output (0.7% versus 0.5% expected) helped to underpin the dollar.
USD/CHF levels to watch
At time of writing, the USD/CHF is trading at the 0.8810, recording a 0.13% gain on the day, with immediate resistances at 0.8826 (Apr 16 high), 0.8834 (21-day SMA) and 0.8845 (Apr 9 high). On the flip side, supports are seen at 0.8780 (Apr 16 low), 0.8762 (Apr 14 low) and 0.8743 (Apr 11 low).