19 Aug 2015
USD/CHF testing lows near 0.9740
FXStreet (Mumbai) - The USD/CHF pair extends the drop for the second straight session on Wednesday, as the US dollar is broadly sold-off across the board ahead of CPI and FOMC minutes.
USD/CHF drops from 0.9776
Currently, the USD/CHF pair trades -0.33% lower at 0.9740, languishing near lows reached at 0.9736. The major extends losses as the Swiss franc remains boosted on broad euro strength amid renewed Greece optimism as Bundestag vote is underway.
While from the US dollar perspective, markets preferred to unwind their USD longs and lock-in gains ahead of crucial US inflation figures and the Fed minutes due for release today.
The US dollar index, which measures the relative strength of the greenback against its major competitors, is trades -0.12% lower now at 96.87.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9798 (Aug 17 High) levels and above which it could extend gains 0.9866 levels. To the downside, immediate support might be located at 0.9719 (Aug 14 Low) levels and below that at 0.9674 (Aug 12 Low) levels.
USD/CHF drops from 0.9776
Currently, the USD/CHF pair trades -0.33% lower at 0.9740, languishing near lows reached at 0.9736. The major extends losses as the Swiss franc remains boosted on broad euro strength amid renewed Greece optimism as Bundestag vote is underway.
While from the US dollar perspective, markets preferred to unwind their USD longs and lock-in gains ahead of crucial US inflation figures and the Fed minutes due for release today.
The US dollar index, which measures the relative strength of the greenback against its major competitors, is trades -0.12% lower now at 96.87.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9798 (Aug 17 High) levels and above which it could extend gains 0.9866 levels. To the downside, immediate support might be located at 0.9719 (Aug 14 Low) levels and below that at 0.9674 (Aug 12 Low) levels.