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USD/CHF hovers at 5-year highs

FXStreet (Córdoba) - Despite thin volume given the US Thanksgiving holiday, USD/CHF has managed to advance on Thursday, approaching multi-year highs struck the previous day.

USD/CHF rallied to a high of 1.0259 on Wednesday amid broad dollar strength and franc weakness on the back of SNB Jordan comments, saying the currency remains overvalued. Following a corrective phase that was contained by the 1.0200 zone, USD/CHF resumed the climb, with a high posted at 1.0252 so far.

USD/CHF technical levels

At time of writing, the pair is trading at 1.0249, up 0.41% on the day. In terms of technical levels, next resistances are seen at 1.0259 (5-year high, Nov 25), 1.0300 (psychological level) and 1.0449 (Aug 22 2010 high). On the other hand, supports could be faced at 1.0203 (Nov 26 low), 1.0162 (10-day SMA) and 1.0121 (Nov 20 low).

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