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16 Sep 2015
USD/CHF falls further below 0.9700
FXStreet (Córdoba) - USD/CHF has extended the decline to fresh daily lows as the dollar weakened across the board following a soft series of US data an as investors adjust positions ahead of the Federal Reserve decision on Thursday.
USD/CHF broke below the 0.9700 level and dove to a low of 0.9673, reversing completely the previous day’s rally. USD/CHF had climbed to the 0.9760 area during the European session, but the dollar failed to sustain gains. At time of writing, the pair is trading at 0.9677, recording a 0.64% loss on Wednesday.
USD/CHF technical levels
In terms of technical levels, next supports are seen at 0.9673/70 (Sep 16 & 15 lows), 0.9653 (50-day SMA) and 0.9639 (21-day SMA). On the upside, resistances could be found at 0.9762 (Sep 15 & 16 highs) and 0.9795 (Sep 11 high).
USD/CHF broke below the 0.9700 level and dove to a low of 0.9673, reversing completely the previous day’s rally. USD/CHF had climbed to the 0.9760 area during the European session, but the dollar failed to sustain gains. At time of writing, the pair is trading at 0.9677, recording a 0.64% loss on Wednesday.
USD/CHF technical levels
In terms of technical levels, next supports are seen at 0.9673/70 (Sep 16 & 15 lows), 0.9653 (50-day SMA) and 0.9639 (21-day SMA). On the upside, resistances could be found at 0.9762 (Sep 15 & 16 highs) and 0.9795 (Sep 11 high).