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USD/CHF takes a breather, stuck at key resistance

FXStreet (Mumbai) - The USD/CHF declined in Asia, snapping a seven day winning streak after having failed to take out 0.9844 (Sep 25 high).

CHF sold across the board

Swiss Franc was ditched across the board on expectations the SNB would retaliate ECB’s hint at more easing in December.

The pair seems to have taken a breather in Asia, although bulls may make a comeback in the US in case the durable goods report surprises on the positive side. At the moment, the pair is trading around 1.5350 levels.

USD/CHF Technical Levels

The immediate resistance is located at 0.9844 (Sep 25 high), above which the pair could rise to 0.9903 (Aug 11 high). On the other side, support is seen at 0.98-0.9794 (hourly 50-MA) and 0.9718 (hourly 100-MA).

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