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21 Sep 2015
USD/CHF drops below 50-DMA
FXStreet (Mumbai) - The bid tone on the CHF strengthened in early Europe, pushing the USD/CHF below its 50-DMA located at 0.9664 levels.
Hovers around key fib level
The spot is currently trading above 0.9656, which is the 61.8% retracement of the plunge witnessed in August. The weak opening in the European stocks, coupled with broad based USD weakness in early Europe ensured the pair fell to a low of 0.9642 levels.
The bid tone on the CHF is largely at the mercy of the overall market sentiment in Europe and later in the US.
USD/CHF Technical Levels
The immediate resistance is located at 0.9664 (50-DMA), above which the pair could re-test 0.9702 (daily high). On the other side, support is seen at 0.9642 (daily low) and 0.9600 levels.
Hovers around key fib level
The spot is currently trading above 0.9656, which is the 61.8% retracement of the plunge witnessed in August. The weak opening in the European stocks, coupled with broad based USD weakness in early Europe ensured the pair fell to a low of 0.9642 levels.
The bid tone on the CHF is largely at the mercy of the overall market sentiment in Europe and later in the US.
USD/CHF Technical Levels
The immediate resistance is located at 0.9664 (50-DMA), above which the pair could re-test 0.9702 (daily high). On the other side, support is seen at 0.9642 (daily low) and 0.9600 levels.