20 Jan 2015
USD/CHF recovers from daily lows
FXStreet (Córdoba) - USD/CHF bounced off daily lows after a 150-pip slide and managed to trim intraday losses during the New York session.
After being rejected from a fresh post-SNB peak of 0.8835, USD/CHF dropped sharply to touch a low of 0.8683 before finding support. With the dollar trading mixed across the board and market’s attention being absorbed by Thursday’s ECB decision, most pairs trade without a clear short-term direction.
Against this backdrop, USD/CHF has managed to climb back to the 0.8750 area, but remains 0.23% down on the day.
However, USD/CHF remains in recovery mode from the 0.7360 zone, where it printed a multi-year low last Thursday on the back of SNB surprise decision to remove the EUR/CHF floor.
After being rejected from a fresh post-SNB peak of 0.8835, USD/CHF dropped sharply to touch a low of 0.8683 before finding support. With the dollar trading mixed across the board and market’s attention being absorbed by Thursday’s ECB decision, most pairs trade without a clear short-term direction.
Against this backdrop, USD/CHF has managed to climb back to the 0.8750 area, but remains 0.23% down on the day.
However, USD/CHF remains in recovery mode from the 0.7360 zone, where it printed a multi-year low last Thursday on the back of SNB surprise decision to remove the EUR/CHF floor.