USD/CHF rises to the strongest since March 2017

Swiss Franc depreciates across the board, EUR/CHF at 2-month highs.
USD/CHF heads for the highest close since January 2017.

Matías Salord FXStreet

The USD/CHF pair continued to rise at a modest pace during the US session and peaked at 1.0159. Near the end of the American session, it is up for the day, about to post the eight daily gain out of the last ten days.

A weaker Swiss franc boosted the pair to the upside. EUR/CHF broke above 1.1425 and trades at 1.1435 about to post the highest early November. The weakness that followed Thursday’s EZ data was short-lived.

Volatility continued at low levels on Monday. Data released today showed lower-than-expected housing numbers for the US, but it was ignored. Activity will return to normal tomorrow with European markets fully operating after holidays. The key data to be released over the week in the US will be on Friday with the first estimate of Q1 GDP.

Levels to watch

To the upside, resistance levels might be seen at 1.1440/45 (February highs) and 1.1465/70 (Novembers highs) and 1.1490. On the flip support, levels could be seen at 1.1420 (Apr 17 high), 1.1390 and 1.1360 (Apr 17 low).

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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