USD/CHF testing multi-month lows near 0.9620

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 31, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The selling pressure is not giving up around the greenback today, now sending USD/CHF to the lower end of the range near 0.9620.

    USD/CHF weaker on USD-selling

    Spot is retreating since Monday after being rejected from recent peaks just below the 0.9800 handle against the backdrop of a renewed and increased offered bias around the US dollar.

    Ahead in the session, the greenback will remain in the limelight with Initial Claims, Chicago PMI and speeches by Fed’s Evans, Williams and Dudley all expected later in the NA session.

    USD/CHF key levels

    The pair is now down 0.28% at 0.9622 facing the next support at 0.9593 (2016 low Mar.30) followed by 0.9523 (monthly low Sep.18 2015) and then 0.9473 (monthly low Oct.15 2015). On the other hand, a break above 0.9791 (high Mar.25) would aim for 0.9820 (200-day sma) and then 0.9912 (55-day sma).

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