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USD/CHF falters ahead of 0.9700 and erases gains

FXStreet (Córdoba) - USD/CHF retraced intraday gains and dipped back to negative territory for the day as the dollar was heavily sold-off despite encouraging economic data.

USD/CHF turned lower after hitting a daily peak of 0.9688, and fell sharply, completely giving up early gains to hit a 4-day low of 0.9618. At time of writing, the pair is trading at 0.9630, effectively unchanged on the day.

USD/CHF levels to watch

In terms of technical levels, immediate supports could be found at 0.9615 (Nov 10 low), 0.9600 (psychological level) and 0.9585 (20-day SMA). On the other hand, resistances are seen at 0.9700 (psychological level/Nov 11 high) and 0.9741 (2014 high Nov 7).

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