USD/CHF hits fresh lows under 0.9600

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Swiss franc is rising for the second day in a row against the US dollar, after breaking yesterday short-term trading range. USD/CHF finished yesterday around 0.9640 and recently dropped to 0.9584, hitting the lowest level in six days.

    From the lows, it bounced to the upside and it was trading around 0.9600, down 50 pips for the day and back under the 20-day moving average.

    A weak US dollar was behind the recent decline of the pair. The Swissy is falling today versus the pound and the euro.

    USD/CHF technical levels

    Resistance levels might lie at 0.9615 (European session low), 0.9650 (daily high) and 0.9685/90 (Apr 14 & 15 high). On the flip side, support could be seen at 0.9585 (daily low / Apr 7 & 8 high), 0.9540/45 (Apr 13 low) and 0.9498 (Apr low).
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