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Jun 3, 2013
USD/CHF crumbles toward 0.9400
FXstreet.com (Córdoba) - The US dollar extended losses across the board during the New York session as it continues to trigger stops en route to fresh multi-week lows.
USD/CHF lost more than 200 pips ever since hitting a daily high of 0.9624 and recently hit a 4-week low of 0.9414 before recovering slightly. At time of writing, USD/CHF is trading at the 0.9450 zone, where it prints a 1.1% loss on the day.
In terms of technical levels, if USD/CHF breaks below 0.9400, next supports are seen at 0.9385 (100-day SMA) and 0.9360 (200-day SMA). On the upside, resistances in case of bounces could be faced at 0.9510 (former support) and 0.9560 (intraday level).
USD/CHF lost more than 200 pips ever since hitting a daily high of 0.9624 and recently hit a 4-week low of 0.9414 before recovering slightly. At time of writing, USD/CHF is trading at the 0.9450 zone, where it prints a 1.1% loss on the day.
In terms of technical levels, if USD/CHF breaks below 0.9400, next supports are seen at 0.9385 (100-day SMA) and 0.9360 (200-day SMA). On the upside, resistances in case of bounces could be faced at 0.9510 (former support) and 0.9560 (intraday level).