FXStreet (Mumbai) – A solid comeback staged by the US dollar across the board, spurred a sharp 50-pips rally in USD/CHF, taking the pair beyond 1.0200 levels.
USD/CHF jumps from 1.0160 region
Currently, the USD/CHF pair trades 0.32% higher at 1.0202, fighting hard to sustain above 1.02 barrier. The Swiss franc shaved-off gains and turned deep in the red versus its American rival on the back of a complete turnaround in risk-sentiments amid rallying European stocks. Most major European indices are trading over 1%, rebounding sharply from previous losses.
Further aiding the recovery in the major from 1.0140 lows, the greenback saw fresh buying interest and jumped higher against its major competitors, resuming its ongoing bullish momentum towards 100 mark.
Meanwhile, markets will continue to monitor the sentiment on the global equities while a series of US macro updates will be also closely watched for fresh incentives.
USD/CHF Technical Levels
To the upside, the next resistance is located 1.0221/27 (Nov 18 & 23 High) levels and above which it could extend gains to 1.0245 (Jan Highs). To the downside, immediate support might be located at 1.0172 (Nov 24 low) and below that at 1.0124 (Nov 18 Low).
(Market News Provided by FXstreet)