OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/CHF: correction contained by 0.9520

FXStreet (Córdoba) - USD/CHF retreated from 14-month highs Thursday and is on track to post its first loss in seven days on a combination of a weaker dollar and a stronger euro.

After failing to break above the 0.9595 area over the last two days, USD/CHF entered a corrective phase that it has been contained by the 0.9520 area in a choppy start to the US session. At time of writing, USD/CHF is trading at 0.9535, recording a 0.25% loss on the day.

USD/CHF levels to watch

In terms of technical levels, USD/CHF could find immediate supports at 0.9520 (daily low), 0.9500 (psychological level) and 0.9478 (10-day SMA). On the other hand, 0.9580 (Oct 2 high), 0.9595 (Oct 1 and Sept 30 highs) and 0.9600 (psychological level).

GBP/USD losing it’s footing

GBP/USD is trading at 1.6142, down -0.27% on the day, having posted a daily high at 1.6252 and low at 1.6113.
Read more Previous

USD on fire up by 7% - BAML

Emanuella Enenajor, economist at Bank of America Merrill Lynch explained that the US dollar is on fire, rising by 7% since the end of June.
Read more Next
Start livechat