USD/CHF drops to 0.9855

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - USD/CHF continue to decline during the American session and bottomed at 0.9855, the lowest level since last Wednesday. Then bounced to the upside, but it was about to end the day below 0.9900.

    The Swiss franc was the best performer among European currencies and posted important gains versus the pound and rose modestly against the euro.

    USD/CHF ready to test 0.9800?

    The pair has been moving with a bearish bias since the beginning of the month and it has fallen more than 400 pips. The decline from 1.0280 so far found support at 0.9800. It traded below the mentioned level, but if was rejected.

    The 0.9800 area was a resistance area back in September and now has become an important support. If its break lower and consolidates below, it could open the doors for a continuation of the decline. While if it holds above, the US dollar could start to build a recovery.
    For more information, read our latest forex news.

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