- 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.
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).
|Today last price||0.9697|
|Today Daily Change||0.0003|
|Today Daily Change %||0.03|
|Today daily open||0.9694|
|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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