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USD/CHF takes a breather, stuck at key resistance

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The USD/CHF declined in Asia, snapping a seven day winning streak after having failed to take out 0.9844 (Sep 25 high).

    CHF sold across the board

    Swiss Franc was ditched across the board on expectations the SNB would retaliate ECB’s hint at more easing in December.

    The pair seems to have taken a breather in Asia, although bulls may make a comeback in the US in case the durable goods report surprises on the positive side.

    USD/CHF Technical Levels

    The immediate resistance is located at 0.9844 (Sep 25 high), above which the pair could rise to 0.9903 (Aug 11 high). On the other side, support is seen at 0.98-0.9794 (hourly 50-MA) and 0.9718 (hourly 100-MA).
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