Dollar is rising sharply against the Swiss Franc. USD/CHF fell earlier to 1.0154, (intra-day low) but rebounded and started to rally to the upside. A possible intervention by the Swiss National Bank and falling stocks fueled the pair that jumped a hundred pips from the lows. USD/CHF rose to 1.0261, posting a fresh intra-day high.
Currently trades near the highs at 1.0252/55, 0.67% above today’s opening price. On the upside the next resistance lies at 1.0290/1.0300 and above at 1.0330.
“ECB policymaker Noyer signaled some concern at recent FX moves, saying that a weaker pound and U.S. dollar were a ‘problem’ for Europe. The Swiss National Bank seemingly went one step further, with the intraday price action suggesting the central bank intervened to weaken the franc.”
USD/CHF (Oct 30 at 16:16 GMT)
H 1.0276 L 1.0154
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1.0166 | 1.0192 | 1.0218 | 1.0256 | 1.0282 | 1.0308 |
| [?]Trend Index | [?]OB/OS Index |
| Slightly Bullish | Neutral |
| Data updated on Oct 30 at 16:10 (15-minute timeframe) |
[ View USD/CHF Technical Studies ]
