USD/CHF having worst day in a month

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - USD/CHF dropped further as the USD weakened across the board. The pair broke below 1.0145 (previous lows) and accelerated to the downside. It bottomed at 1.0125, hitting a 2-day low.

    The pair is having the worst decline in more than a month, by losing just 65 pips. USD/CHF has been rising constantly since mid-October with modest corrections. Today is falling breaking a 4-day streak of gains.

    The US dollar is falling across the board. It lost strength yesterday after the FOMC minutes and recently resumed the downside, possible amid some profit taking.

    USD/CHF technical levels

    If the pair continues to correct lower it could find support at 1.0125 (daily low), 1.0095 (Nov 13 high), 1.0055 and 0.9980 (20-day MA). On the opposite direction, resistance now might be seen at 1.0145 (Asian session low), 1.0170/75 (Nov 75 high) and 1.0205 (daily high).
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