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USD/CHF falls ahead of FOMC statement

FXStreet (Córdoba) - USD/CHF fell to an 8-day low as fears of a dovish Fed stance are weighing on the dollar ahead of the FOMC statement release.

USD/CHF is extending the decline into a fourth day Wednesday, having hit its lowest level in 8 days at 0.9440 in recent dealings as the dollar weakened across the board with investors refraining from being exposed ahead of the Federal Reserve decision.

At time of writing, USD/CHF is trading at 0.9447, recording a 0.24% loss on the day.

USD/CHF technical levels

In terms of technical levels, USD/CHF could find next supports at 0.9440 (intraday low), the 0.9400/0.9397 area (psychological level/Oct 21 & 16 lows/50-day SMA) and 0.9361 (Oct 15 low). On the other hand, resistances are seen at 0.9476 (intraday high), 0.9510 (Oct 28 high/20-day SMA) and 0.9545 (Oct 24 high).

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