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26 Jan 2015
USD/CHF jumps to 0.8880
FXStreet (Edinburgh) - The Swiss franc is rapidly depreciating vs. the US dollar at the beginning of the week, with USD/CHF rising to the 0.8880 neighbourhood.
USD/CHF stronger after SNB release
The pair saw its upside renewed on Monday following the increase of the sight deposits held by the SNB to CHF 365.5 billion in the week ended on January 23rd, up from CHF 339.6 billion in the previous week. The release adds to the rumours regarding the intervention of the SNB following its recent decision to abandon the 1.20 peg vs. the single currency.
USD/CHF relevant levels
As of writing the pair is gaining 0.69% at 0.8864 facing the next hurdle at 0.8900 (psychological level) ahead of 0.9123 (61.8% of 1.0212-0.7360) and then 0.9134 (high Jan.15). On the other hand, a breach of 0.8800 (psychological level) would aim for 0.8502 (low Jan.21) and finally 0.8385 (low Jan.16).
USD/CHF stronger after SNB release
The pair saw its upside renewed on Monday following the increase of the sight deposits held by the SNB to CHF 365.5 billion in the week ended on January 23rd, up from CHF 339.6 billion in the previous week. The release adds to the rumours regarding the intervention of the SNB following its recent decision to abandon the 1.20 peg vs. the single currency.
USD/CHF relevant levels
As of writing the pair is gaining 0.69% at 0.8864 facing the next hurdle at 0.8900 (psychological level) ahead of 0.9123 (61.8% of 1.0212-0.7360) and then 0.9134 (high Jan.15). On the other hand, a breach of 0.8800 (psychological level) would aim for 0.8502 (low Jan.21) and finally 0.8385 (low Jan.16).