USD/CHF extends post-SNB strong rally, jumps back closer to 0.9860-70 supply zone – by hareshmenghani USDCHF SNB Fed Majors Currencies
The SNB’s 50 bps seems to have disappointed traders and weighs heavily on the Swiss franc.USD/CHF
pair catches aggressive bids after the Swiss National Bank announced its policy decision earlier this Thursday and continues scaling higher through the mid-European session. The momentum lifts spot prices to a fresh two-week high, though stalls ahead of the 0.9860-0.9870 supply zone tested in August and earlier this month.
The SNB hikes its policy rate by 75 bps, as was widely expected, though some market participants have been pricing in a more aggressive 100 bps increase going into the decision. This turns out to be a key factor that weighs heavily on the Swiss franc and prompts aggressive short covering around the USD/CHF pair.
The strong intraday ascent takes along some short-term trading stops placed near the 100-day SMA. A subsequent strength and acceptance above the 0.9700 mark prompt some technical buying. This, along with the emergence of some US dollar dip-buying, provides an additional lift to the USD/CHF pair and remains supportive.market is fading rather quickly. Apart from this, a more hawkish stance adopted by the Federal Reserve continues to act as a tailwind for the greenback.
Bulls, however, might prefer to wait for a sustained strength beyond the 0.9860-0.9870 region before positioning for any further appreciating move. Next on tap will be the release of the US Weekly Initial Jobless Claims data, which might influence the USD price dynamics and provide some impetus to the USD/CHF pair.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
USD/CHF surges to two-week high, further beyond mid-0.9700s post-SNB decisionThe USD/CHF pair reverses an intraday dip to the 0.9620 area and spikes to a two-week high after the Swiss National Bank (SNB) announced its monetary
Leer más »
USD/CHF oscillates around 0.9660 after a Fed-induced volatile session, SNB policy eyedThe USD/CHF pair is juggling around 0.9660 in the early Tokyo session as volatility oscillators are having a sigh of relief after a notably higher vol
Leer más »
Gold Price Forecast: XAU/USD eyes further downside below $1,700 as DXY extends post-Fed rallyGold Price Forecast: XAU/USD eyes further downside below $1,700 as DXY extends post-Fed rally – by anilpanchal7 Gold XAUUSD Fed RussianFederation Recession
Leer más »
USD/CAD rallies beyond 1.3300 post-Canadian CPI, bulls retain control amid stronger USDUSD/CAD rallies beyond 1.3300 post-Canadian CPI, bulls retain control amid stronger USD – by hareshmenghani USDCAD Canada Inflation Fed Currencies
Leer más »
USD/CHF Price Analysis: Fluctuates nearby familiar levels at around 0.9640sUSD/CHF ended Tuesday’s trading session almost flat, with a minimal 0.01% gain, courtesy of broad US dollar strength across the board. Nevertheless, a
Leer más »
AUD/USD bulls move in and take back 0.6700, eye 0.6720sAUD/USD has rallied following a 30 pip drop below the round 0.6650 level that came on the back of the knee-jerk reaction to the Fed's interest rate hi
Leer más »