Forex | Forex | Forex: USD/CHF jumps to 1.0900 on aggressive BIS intervention (24/06/2009 11:50:00)

Forex: USD/CHF jumps to 1.0900 on aggressive BIS intervention

FXstreet.com (Barcelona) - USD/CHF has risen 250 pips in the last hour from 1.0650 to post fresh 1-week high at 1.0907 on aggressive BIS intervention. Pair is rising 1.50% so far today from opening price to the current 1.0850/70. EUR/CHF has soared around 275 pips in the last hour to post fresh 2-month high at 1.5287.

During the current week, USD/CHF has been following the EUR/CHF relation to approach to the 1.5000 key intervention level, as Valeria Bednarik says in her yesterday's Daily Wrap Up Webinar at 22:30 GMT at FXstreet.com. Currently, BIS is bidding the cross that rose almost 280 pips in an hour to the 2-month high.

USD/CHF rose to 1.0900 dragging down EUR/USD to 1.4000 level. Both, Swis Both, Swissy and Euro are correcting from intraday lows against greenback but the perspective pre FOMC has changed in this two pairs.

According to Valeria Bednarik, FXstreet.com collaborator: "USD/CHF regained the upside, quoting barely under the 1.0900 level after BIS intervention, and despite exhausted is smaller time frames, pair remains hovering around yesterday's high. Downside correction, if contained by 1.0840 zone is expected before a new up leg, that will find resistances at 1.0910 and the key 1.0950 congestion zone. Clear movements above that level, will signal more bullish bias in the term. Under 1.0840, supports today lie at 1.0805 and the 1.0770 zone."
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