- Analytics
- News and Tools
- Market News
- USD/CHF above 1.0000 pushing against 1.0065 two-year high
USD/CHF above 1.0000 pushing against 1.0065 two-year high
- The dollar breaks above parity and reaches a two-year high at 1.0065.
- Hopes of Fed tightening are boosting the US dollar.
- USD/CHF: Above 1.0074/98, higher targets are likely – Credit Suisse.
The US dollar has extended its rally against the Swiss Franc on Friday, breaking finally above the parity level, to test May highs at 1.0065. The pair is on track to close its fifth consecutive positive week after rushing 5% up from mid-September lows.
The greenback surges on Fed tightening hopes
The US consumer price data released on Thursday confirmed the resilient inflationary pressures on Thursday and boosted confidence in a fourth consecutive 0.75% Fed hike in November. This has increased the attractiveness of the US dollar for investors.
Furthermore, the growing concerns about a global recession on the back of a series of downbeat figures are also favoring the US dollar, seen as a safe haven in times of uncertainty.
USD/CHF: Breach of 1.0074/98 will open the path for higher targets – Credit Suisse
FX analysts at Credit Suisse point out a key resistance area at 1.0074/98: “Above the 1.0074/98 major barrier would be seen to clear the way for strength to the highs of 2019 at 1.0226/35.”
Technical levels to watch
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
