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USD/CHF extends gains, approaches 0.9800

FXStreet (Córdoba) - USD/CHF is rising on Wednesday after falling during the previous two days. After Wall Street opening bell it climbed further and recently peaked at 0.9770, hitting a 2-day highs.

Currently it trades at 0.9760/65, up more than 50 pips from yesterday’s closing price. The area around 0.9700 offered support and from there it started to rise, gaining momentum after the ADP employment report.

Stocks are rising sharply in the US. The Dow Jones was up 1.53% and the Nasdaq 2.14%. Greenback was up against European currencies but it was lower versus the commodity block.

USD/CHF technical levels

To the upside, resistance levels might lie at 0.9775, 0.9815/20 (Sept 28 high) and 0.9845 (Sep 25 high). On the opposite direction, support now could lie at 0.9720/25, 0.9685 (Sep 29 low) and 0.9665 (Sept 24 low).

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