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22 Jun 2015
USD/CHF above 0.9250 or below 0.9140?; that is the question
FXStreet (Córdoba) - The Swiss franc is falling modestly against the US dollar on Monday but still remains near monthly highs. USD/CHF fell to test last week lows that lie slightly above 0.9140 several times but it rebounded.
Price peaked at 0.9225. During the last hours the area around 0.9220/25 has been tested but it capped the upside. Currently trades at 0.9215, up 50 pips from Friday’s closing price.
The Swiss franc is also falling modestly against the euro amid hopes of a Greek deal, but no today. The French President said that no formal decision will be taken during tonight’s summit. The Eurogroup meeting ended with a statement that welcomed the reform plans submitted by the Greek authorities. Another meeting might be held during the week.
USD/CHF waiting for a break
To the upside, the key resistance is located around the 0.9250 zone. The mentioned are worked as a support during the firth half of the month and last week, after it was broken, started to act as a resistance. A break higher could trigger a rally of the US dollar.
On the opposite direction the key support lies around 0.9140. If broken the pair could resume the bearish run and it would reach fresh month lows, opening the doors for a test of 0.9070 (May lows).
Price peaked at 0.9225. During the last hours the area around 0.9220/25 has been tested but it capped the upside. Currently trades at 0.9215, up 50 pips from Friday’s closing price.
The Swiss franc is also falling modestly against the euro amid hopes of a Greek deal, but no today. The French President said that no formal decision will be taken during tonight’s summit. The Eurogroup meeting ended with a statement that welcomed the reform plans submitted by the Greek authorities. Another meeting might be held during the week.
USD/CHF waiting for a break
To the upside, the key resistance is located around the 0.9250 zone. The mentioned are worked as a support during the firth half of the month and last week, after it was broken, started to act as a resistance. A break higher could trigger a rally of the US dollar.
On the opposite direction the key support lies around 0.9140. If broken the pair could resume the bearish run and it would reach fresh month lows, opening the doors for a test of 0.9070 (May lows).