Forex: USD/CHF falls to 6-week low
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USD/CHF
FXstreet.com (Córdoba) - The dollar weakened broadly on Tuesday and fell to its lowest in 6 weeks against the franc, as the positive mood among financial markets weighed on the greenback.
USDCHF lost nearly 100 pips on Tuesday and recently hit a low of 0.9627, last seen Jul 5, before stabilizing right above. At time of writing, USDCHF is trading at the 0.9630 area, printing a 1.0% loss on the day.
"The pair broke below its support of 0.9700-680 and is now aiming for 0.9610", says the Kshitij Consultancy Services Team. "It has broken the neck line of the head and shoulder pattern on the daily charts the target of which is 0.9500. Every up move is expected to face resistance in the 0.9680-700 region".
USDCHF lost nearly 100 pips on Tuesday and recently hit a low of 0.9627, last seen Jul 5, before stabilizing right above. At time of writing, USDCHF is trading at the 0.9630 area, printing a 1.0% loss on the day.
"The pair broke below its support of 0.9700-680 and is now aiming for 0.9610", says the Kshitij Consultancy Services Team. "It has broken the neck line of the head and shoulder pattern on the daily charts the target of which is 0.9500. Every up move is expected to face resistance in the 0.9680-700 region".
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