USD/CHF nears 0.97 hurdle on SNB Jordan's remark

  • SNB Chief Jordan's comments continue to weigh over CHF in Asia. 
  • USD/CHF is probing the psychological hurdle of 0.97, which has been capping upside since Jan. 17.

The USD/CHF pair is trading in the positive territory near the psychological resistance of 0.97 on Friday. 

SNB could intervene if necessary

Swiss National Bank's (SNB) Chairman Thomas Jordan was out on the wires Thursday, assuring markets that US' decision to add Switzerland to its list currency watchlist will not deter the SNB from cutting rates or intervening in the FX markets to halt upside in the Swiss franc. 

Jordan also said that negative rates are a necessity, and reiterated that the SNB conducts its independent monetary policy that does not tag along with the ECB, according to Reuters. 

As a result, markets offered CHF on Thursday and the weak tone has persisted so far in Asia, despite coronavirus scare. 

Bulls need close above 0.97

The area around the psychological level of 0.97 has been capping upside since Jan. 17. The pair did rise to 0.9729 on Jan. 22 but failed to print a daily close above 0.97. 

The bulls, therefore, need a daily close above 0.97. That would open the doors for resistance at 0.9762 (Jan. 10 high). 

Technical levels


Today last price 0.9697
Today Daily Change 0.0003
Today Daily Change % 0.03
Today daily open 0.9694
Daily SMA20 0.9695
Daily SMA50 0.9805
Daily SMA100 0.9865
Daily SMA200 0.99
Previous Daily High 0.9704
Previous Daily Low 0.9668
Previous Weekly High 0.9738
Previous Weekly Low 0.9613
Previous Monthly High 1.0009
Previous Monthly Low 0.9646
Daily Fibonacci 38.2% 0.969
Daily Fibonacci 61.8% 0.9682
Daily Pivot Point S1 0.9673
Daily Pivot Point S2 0.9653
Daily Pivot Point S3 0.9637
Daily Pivot Point R1 0.9709
Daily Pivot Point R2 0.9725
Daily Pivot Point R3 0.9745



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