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23 Feb 2015
USD/CHF rises back above 0.9500
FXStreet (Córdoba) - USD/CHF found support at 0.9465 and rebounded, climbing back above 0.9500. The pair reached a fresh daily high at 0.9514 and remains above 0.9500, up a hundred pips for the day, headed toward the strongest daily since January 14.
The Swiss franc is among the worst performers in the currency market on Monday and trades at 1-month lows against the pound and erased Friday’s gains versus the euro.
USD/CHF outlook
The pair continues to move with an upside bias, extending the recovery after the SNB turmoil a month ago. Since the beginning of the month it has risen almost 300 pips and currently is attempting to consolidate above 0.9500. The short term outlook point to the upside, as price holds above an uptrend line that stands at 0.9400; a break lower could trigger a bearish rally.
The Swiss franc is among the worst performers in the currency market on Monday and trades at 1-month lows against the pound and erased Friday’s gains versus the euro.
USD/CHF outlook
The pair continues to move with an upside bias, extending the recovery after the SNB turmoil a month ago. Since the beginning of the month it has risen almost 300 pips and currently is attempting to consolidate above 0.9500. The short term outlook point to the upside, as price holds above an uptrend line that stands at 0.9400; a break lower could trigger a bearish rally.