USD/CHF remains firm above 1.0300

By FXStreet FXStreet (Córdoba) – USD/CHF continues to trade near 5-year highs scored last Friday, with the greenback retaining the positive tone in a quiet session as investors await central banks decisions and US employment report later this week.

After hitting a 5-year high at 1.0327, USD/CHF entered a consolidation phase that has extended over the last sessions with the downside contained by the 1.0290 area. At time of writing, the pair is trading at 1.0309, up 0.17% on the day.

Investors have speculated the SNB has been intervening in the FX market to weaken the franc, ahead of the ECB decision next Thursday.

USD/CHF levels to consider

As for technical levels, next resistances are seen at 1.0327 (5-year high, Nov 27), 1.0400 (psychological level) and 1.0449 (Aug 22 2010 high). On the other hand, supports could be faced at 1.0225 (Nov 27 low), 1.0203 (Nov 26 low), 1.0184 (10-day SMA) and 1.0121 (Nov 20 low).
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Source:: FX Street