USD/CHF weaker, breaks below 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 (Edinburgh) - The weakness around the greenback is now picking up pace, dragging USD/CHF to sub-0.9600 levels.

    USD/CHF lower on USD-selling

    Spot is retreating for the third consecutive week so far and challenging 4-week lows in the 0.9590 area in response to the generalized offered tone around the US dollar.

    News from Switzerland states that the country will impose 5% leverage ratio on its biggest banks, while on the data space Producer and Import Prices have contracted 0.1% MoM during September and dropped at an annual rate of 6.8%.

    USD/CHF levels to consider

    At the moment the pair is losing 0.39% at 0.9589 facing the immediate support at 0.9574 (200-day sma) ahead of 0.9527 (low Sep.18) and then 0.9500 (psychological level). On the upside, a break above 0.9683 (55-day sma) would open the door to 0.9843 (monthly high Sep.23) and finally 0.9903 (high Aug.11).
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