12 Aug 2015
USD/CHF continues to back away from 0.9900
FXStreet (Córdoba) - USD/CHF fell sharply on Wednesday, as the dollar weakened broadly, and erased previous days’ gains during the last sessions.
USD/CHF found resistance at the 0.9900 area and turned lower, snapping a 7-day winning streak, with the dollar dropping across the board following PBoC moves as expectations of a Fed rate hike in September begin to fade.
Having lost more than 150 pips throughout the day, USD/CHF is currently trading at 0.9732, recording a 1.49% loss on the day.
USD/CHF technical levels
Immediate supports are now seen at 0.9683 (21-day SMA), 0.9667 (Aug 8 low) and 0.9643 (Aug 3 low). On the upside, resistances line up at 0.9800 (Aug 11 low/psychological level), 0.9889 (Aug 12 high) and 0.9902 (Aug 11 high).
USD/CHF found resistance at the 0.9900 area and turned lower, snapping a 7-day winning streak, with the dollar dropping across the board following PBoC moves as expectations of a Fed rate hike in September begin to fade.
Having lost more than 150 pips throughout the day, USD/CHF is currently trading at 0.9732, recording a 1.49% loss on the day.
USD/CHF technical levels
Immediate supports are now seen at 0.9683 (21-day SMA), 0.9667 (Aug 8 low) and 0.9643 (Aug 3 low). On the upside, resistances line up at 0.9800 (Aug 11 low/psychological level), 0.9889 (Aug 12 high) and 0.9902 (Aug 11 high).