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May 8, 2013
Forex: USD/CHF falls to fresh lows
FXstreet.com (Córdoba) - The US dollar weakened across the board at the beginning of the NY session, and fell to 2-day low versus the franc.
USD/CHF dropped nearly 50 pips within the last hours, mirroring the EUR/USD move, and having broken below the 100- and 200-hour SMA it recently hit a low of 0.9345. At time of writing, USD/CHF is trading around 0.9350, 0.6% below its opening price.
In terms of technical levels, immediate supports for the cross are seen at 0.9335 (low May 6), and 0.9300 (psychological level), while resistances might be faced at 0.9410 (daily high) followed by 0.9435 (high May 7).
USD/CHF dropped nearly 50 pips within the last hours, mirroring the EUR/USD move, and having broken below the 100- and 200-hour SMA it recently hit a low of 0.9345. At time of writing, USD/CHF is trading around 0.9350, 0.6% below its opening price.
In terms of technical levels, immediate supports for the cross are seen at 0.9335 (low May 6), and 0.9300 (psychological level), while resistances might be faced at 0.9410 (daily high) followed by 0.9435 (high May 7).