OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/CHF rebounds at 0.9600

FXStreet (Córdoba) - USD/CHF dropped during the Asian session and bottomed at 0.9603; then bounced to the upside, trimming losses. It was trading around 0.9630, slightly below the price it had at the beginning of the day. The pair remained steady during the last few hours.

Despite rising against the US dollar, the Swiss franc is falling considerably against the euro, moving away from 2-year highs; but is rising modestly versus the pound. Volatility could increase in the coming hours with ECB decision and Draghi’s press conference.

USD/CHF technical level

To the upside, immediate resistance is seen at 0.9650 (daily high) and above here at 0.9660/65 (Nov 5 high) and 0.9690 (Nov 3 high). To the downside, support might be located at 0.9600/05 (daily low), 0.9575/80 and 0.9550.

Gold still expensive relative to other commodities

Despite the rout in Gold, the metal is still highly expensive relative to Silver and other commodities.
Read more Previous

Nikkei falls on profit booking

The Japanese equity markets ended lower today on a bout of profit booking after having gained more than 8% since last Friday.
Read more Next
Start livechat