USD/CHF breaks below 0.9750 on a weak US dollar

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The US dollar is falling across the board on Monday, ending several days with modest gains. USD/CHF opened the week testing last week highs around 0.9787 but it turned to the downside and recently bottomed at 0.9725, the lowest level since March 23.

    The decline of the pair was triggered after the release of the personal income and spending report in the US, that showed the core PCE index below expectations. USD/CHF broke below 0.9750 after the economic numbers accelerating the decline. In a few hours the pair erased most of last week gains.

    USD/CHF technical levels

    To the upside, resistance levels might be seen at 0.9750 (Mar 25 low), 0.9785 (Mar 25 & 28 high) and 0.9845/50 (Mar 15 low). On the opposite direction, potential support levels are located at 0.9725 (daily low / Mar 23 low) and 0.9650 (March low).
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