OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/CHF loses steam above 0.9600

FXStreet (Córdoba) - The rally of the dollar against the swiss franc inspired by a more hawkish than expected Fed statement, faltered above 0.9600 giving way to a mild correction lower.

As investors continue to assess Fed’s stance, US dollar takes a breather and consolidates near recent highs. USD/CHF reached a 3-week peak of 0.9606 but failed to hold above the psychological level and pulled back toward the 0.9570 zone before finding support. At time of writing, USD/CHF is trading at 0.9575, still up 0.29% on the day.

USD/CHF levels to watch


As for technical levels, USD/CHF could find immediate resistances at 0.9606 (daily high), 0.9624 (Oct 7 high) and 0.9686 (Oct 6 high). On the other hand, supports are seen at 0.9541 (daily low), 0.9518 (21-day SMA) and 0.9500 (psychological level).

Crude oil price rally looses momentum on the back of a strong USD

Independent Analyst Malcolm Graham-Wood points out that oil price rose yesterday but some losses have been seen already in the European morning due to the strong dollar.
Read more Previous

Chile Unemployment rate fell from previous 6.7% to 6.6% in September

Read more Next
Start livechat