USD/CHF hits fresh monthly lows sub-0.9600

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - USD/CHF came under renewed pressure and printed fresh monthly lows as the greenback continues to trade in a risk-off fashion, weaker against the franc and the yen, and stronger against commodity currencies.

    USD/CHF broke below the 100-day SMA and stretched to its lowest level since Sep 18 at 0.9554 before recovering somewhat. At time of writing, USD/CHF is trading at 0.9580, recording a 0.49% loss on the day.

    USD/CHF key levels

    In terms of technical levels, next supports are seen at 0.9554 (Oct 13 low), 0.9525 (Sep18 low/200-day SMA) and then 0.9500 (psychological level). On the upside, short-term resistances line up at 0.9645 (Oct 13 high), 0.9695 (50-day SMA) and then 0.9739 (Oct 7 high).
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