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11 Mar 2015
USD/CHF strongly bid above 1.00, parity within reach
FXStreet (Mumbai) - USD/CHF pierced through the 1.00 barrier in the mid-European session and remains less than 2 pips below parity, the highest level since the Swiss National Bank removed its cap against the euro currency.
Stronger USD pushes USD/CHF above 1.00
Currently, the USD/CHF surged by 0.35% at 1.0032 levels, having reached fresh two months high at 1.0036 few minutes ago. The pair rallied largely driven by a renewed greenback rally across the board as traders amid increased expectations that the Fed will probably drop "patient" from its vocabulary and hint at a probable June rate-hike at its March 18 meeting.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies jumped to fresh twelve year highs at 99.01 and now trades at 98.96 levels, recording a 0.35% gain on the day.
USD/CHF Technical Levels
To the upside, the next resistance is located at 1.01 levels and above which it could extend gains to 1.0221 levels. To the downside, immediate support might be located at 0.9950 levels and below that at 0.9900 levels.
Stronger USD pushes USD/CHF above 1.00
Currently, the USD/CHF surged by 0.35% at 1.0032 levels, having reached fresh two months high at 1.0036 few minutes ago. The pair rallied largely driven by a renewed greenback rally across the board as traders amid increased expectations that the Fed will probably drop "patient" from its vocabulary and hint at a probable June rate-hike at its March 18 meeting.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies jumped to fresh twelve year highs at 99.01 and now trades at 98.96 levels, recording a 0.35% gain on the day.
USD/CHF Technical Levels
To the upside, the next resistance is located at 1.01 levels and above which it could extend gains to 1.0221 levels. To the downside, immediate support might be located at 0.9950 levels and below that at 0.9900 levels.