Forex
USD/CHF Jumps 0.27% on Intervention and Economic Data
The USD/CHF rose by about 0.27% on Monday after US and Japanese authorities intervened in FX markets.
This move was accompanied by better-than-expected US economic data and a halt in hostilities between the US and Iran, which provided a tailwind for the Greenback.
The technical picture remains constructive after USD/CHF bounced off the 50-day Simple Moving Average (SMA) at 0.8037.
For a bullish continuation, the USD/CHF needs to clear the 0.8150 milestone, with above this area sitting the 0.8200 figure and the yearly peak at 0.8207.