USD/CHF falls below 0.9900 after US GDP

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - USD/CHF broke below 0.9900 and posted fresh lows for the day as the greenback continues to underperform after data showed US GDP for the third quarter was revised down.

    US gross domestic product rose at a 2.0% seasonally adjusted annual rate in the third quarter, down from 2.1% reported last month but still above the 1.9% expected.

    USD/CHF came under renewed pressure and slid through the 200-hour SMA to a post Fed low of 0.9875. At time of writing, the pair was trading at 0.9883, recording a 0.38% loss on the day.

    USD/CHF levels to watch
    As for technical levels, next supports are seen at 0.9820 (100-day SMA), 0.9785 (Dec 14 low) and then 0.9755 (Oct 26 low). On the other hand, immediate resistances line up at 0.9946 (50-day SMA), 0.9990 (Dec 17 high), 1.0015 (21-day SMA) and then 1.1033 (Dec 4 high).
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