9 Dec 2014
USD/CHF falls, support at 200-day SMA
FXStreet (Mumbai) - The Swiss currency recovered against the greenback and edged higher as the US dollar lost ground against its major counterparts.
Currently, the USD/CHF pair trades at 0.9732, down -0.30% from its previous session close of 0.9764. The Swiss franc rebounded from its 18 month low hit during the last week and moved higher today, as the US dollar index, which measures the greenback against a basket of six major currencies, retreated from the strongest level since March 2009 to trade at 88.96, down by -0.10%.
USD/CHF Levels to consider
To the upside, the next resistance is located at 0.9761 (20-day SMA) and above which it could extend gains to 0.9772 (50-day SMA) levels. To the downside immediate support might be located at 0.9710 (200-day SMA) and below that at 0.9646 (Dec 4 Low) levels.
Currently, the USD/CHF pair trades at 0.9732, down -0.30% from its previous session close of 0.9764. The Swiss franc rebounded from its 18 month low hit during the last week and moved higher today, as the US dollar index, which measures the greenback against a basket of six major currencies, retreated from the strongest level since March 2009 to trade at 88.96, down by -0.10%.
USD/CHF Levels to consider
To the upside, the next resistance is located at 0.9761 (20-day SMA) and above which it could extend gains to 0.9772 (50-day SMA) levels. To the downside immediate support might be located at 0.9710 (200-day SMA) and below that at 0.9646 (Dec 4 Low) levels.