OctaFX | OctaFX Forex Broker
Open trading account

USD/CHF drops below 50-DMA

FXStreet (Mumbai) - The bid tone on the CHF strengthened in early Europe, pushing the USD/CHF below its 50-DMA located at 0.9664 levels.

Hovers around key fib level

The spot is currently trading above 0.9656, which is the 61.8% retracement of the plunge witnessed in August. The weak opening in the European stocks, coupled with broad based USD weakness in early Europe ensured the pair fell to a low of 0.9642 levels.

The bid tone on the CHF is largely at the mercy of the overall market sentiment in Europe and later in the US.

USD/CHF Technical Levels

The immediate resistance is located at 0.9664 (50-DMA), above which the pair could re-test 0.9702 (daily high). On the other side, support is seen at 0.9642 (daily low) and 0.9600 levels.

Norges Bank seen cutting rates by 25 bp – TDS

Strategists at TD Securities expect the Nordic central bank to cut its benchmark rate by 25 bp at its meeting ahead in the week...
Read more Previous

USD/JPY negative below 121.35/80 – Commerzbank

In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s outlook remains bearish while below 121.35/80...
Read more Next
Start livechat