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Forex: USD/CHF setting new lows at 0.9470/77

FXstreet.com (Barcelona) - The USD/CHF downside has continued during American trading today as the pair finds itself under siege from a risk-on movement Thursday. At the time of writing the pair is now establishing fresh session lows at 0.9470/77, down a staunch -0.68% off its opening.

The USD/CHF is gradually dropping in response to the slight negativity shown on momentum indicators. The upside move might return during today’s session, as stability above 0.9495 is positive and touching this level is likely before moving back to the upside. Moreover, the linear regression indicators are still positive supporting our expectations.” suggests the ICN.com analyst team.

According to the ICN.com analysts, after breaking calculated support at 0.9515 and 0.9495, additional corrective measures of support lie ahead at 0.9455, then 0.9425, and finally the 0.9400 barrier. On the ascension, resistances for the USD/CHF will initiate at 0.9570 onto 0.9610 and ultimately 0.9655.

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