3 Dec 2013
USD/CHF hits 5-week low
FXstreet.com (Córdoba) - The USD/CHF fell to a fresh 5-week low during the American session as the greenback extends losses across the board, reversing yesterday's advance.
On Monday the dollar rose amid speculations of an early taper from the Fed, but as dust settles the USD recedes. Against the franc, the US currency fell to its lowest since Oct 31 at 0.9019 before finding buyers and recovering slightly. At time of writing, the USD/CHF is trading at the 0.9035 zone, recording a 0.6% loss on the day.
USD/CHF levels to watch
In terms of technical levels, the USD/CHF could find immediate supports at 0.9019 (daily low) and 0.9000 (psychological level) and 0.8991 (Oct 31 low). On the other hand, resistances are seen at 0.9100 (daily high/psychological level) and 0.9110 (Dec 2 high) ahead of 0.9120 (20-day SMA)
On Monday the dollar rose amid speculations of an early taper from the Fed, but as dust settles the USD recedes. Against the franc, the US currency fell to its lowest since Oct 31 at 0.9019 before finding buyers and recovering slightly. At time of writing, the USD/CHF is trading at the 0.9035 zone, recording a 0.6% loss on the day.
USD/CHF levels to watch
In terms of technical levels, the USD/CHF could find immediate supports at 0.9019 (daily low) and 0.9000 (psychological level) and 0.8991 (Oct 31 low). On the other hand, resistances are seen at 0.9100 (daily high/psychological level) and 0.9110 (Dec 2 high) ahead of 0.9120 (20-day SMA)