FXStreet (Córdoba) – The Swiss franc is falling on Monday against the US dollar on Monday. USD/CHF currently stands at 0.9750, 25 pips above the level it closed on Friday.
USD/CHF eyeing 0.9770
The pair peaked today at 0.9764 and remains near the 0.9770 area, that is the key short-term resistance that capped the upside on Thursday and Friday; a break higher could open the doors for more gains. Above 0.9770, the next resistance lies at 0.9800.
Since Thursday it is moving sideways between 0.9690 and 0.9770, but holding a bullish tone on a wider perspective.
A weak CHF
The Swissy is also falling on Monday versus the pound and the euro. According to analysts from Rabobank, the CFTC report shows that net positions in the Swiss franc, “have stayed in negative territory for five consecutive weeks suggesting that negative interest rates and the threat of further SNB FX intervention have had some impact in undermining the attraction of the Swissie.”
(Market News Provided by FXstreet)