USD/CHF finds resistance at 0.9950 and drops to 1-week lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - USD/CHF is falling on Thursday, the last trading day of the week, and is about to end below 0.9900. The pair bottomed during the European session at 0.9851, the lowest level since December 16.

    USD/CHF capped by 0.9950

    Yesterday a stronger US dollar pushed the pair toward 0.9950 but it found resistance and turned to the downside. Greenback finished higher but far from the highs and since today’s Asian session it had been moving with a bearish bias. It dropped back under 0.9900 and extended losses during the European session.

    From the lows it rose modestly and it was trading at 0.9870, 60 pips below last week closing price.

    The US dollar is falling against European currencies but price action across the forex market remains limited on a low volume session, amid holidays.
    For more information, read our latest forex news.

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