FXstreet.com (Barcelona) - The USD/CHF has risen around 170 pips from 1.1236, breaking the 1.1330 resistance level, to reach a fresh intra-week high at 1.1410. Currently, the pair is trading around 1.1370/90.
Last days, the pair has been traded between the 1.1180/1.1330 channel, but the USD has broken the 1.1330 resistance in the early European session, to be above the 1.1400 level. Along today's trading session, USD/CHF has risen 0.97% from the 1.1271 opening price.
According to Nick Nasad, Analyst at CMS, the Swissy has been an interesting currency ever since the Swiss National Bank said that they would and did intervene in the currency markets to weaken the Franc: The USD/CHF has been consolidating since then and how prices react when we reach our channels support and resistance levels will be the main indicator of what the pair will do. I personally think we will see a continuation of our consolidation pattern and should wait to watch price action develop
On the other hand, Valeria Bednarik help us to understand today's market situation: For the first time in several weeks, majors and stocks moved in different ways. While stocks rose 175 points in the U.S. approaching to the key 8000 points level, Euro fell close to 1.3500 and GBP to the 1.4440 zone, and both currencies remain close to that level. Sharp gains on Wall Street were led by consumer shares along with the surge in oil and gold, and other base metals. The increase in risk appetite has also triggered gains in commodity currencies such as the Australian and New Zealand dollars, supported by signs of bank stability. But while Euro and Swiss Franc remain in past days range, GBP is falling stronger across the board, yet in a few minutes some macroeconomic news will be release in the U.K. let's see what they can do for their own currency.