Forex: USD/CHF falls to 7-month low
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USD/CHF
FXstreet.com (Córdoba) - As the dollar weakens across the board and given the high correlation between the euro and the franc, USDCHF came under pressure and broke below the 0.9200 psychological level during the American afternoon.
USDCHF dropped over 60 pips within the last hours and hit its lowest level since early May at 0.92165 before slowing the decline. At time of writing, USDCHF is quoting at the 0.9170 zone, 0.7% below its opening price.
On the downside, next support levels could be found at 0.9115 (May 4 low), 0.9100 (psychological level) and 0.9075 (May 2 low). On the upside, resistances on bounces are now seen at 0.9215 (Oct lows), 0.9240 (Dec 3 low) and 0.9280 (10-day SMA).
USDCHF dropped over 60 pips within the last hours and hit its lowest level since early May at 0.92165 before slowing the decline. At time of writing, USDCHF is quoting at the 0.9170 zone, 0.7% below its opening price.
On the downside, next support levels could be found at 0.9115 (May 4 low), 0.9100 (psychological level) and 0.9075 (May 2 low). On the upside, resistances on bounces are now seen at 0.9215 (Oct lows), 0.9240 (Dec 3 low) and 0.9280 (10-day SMA).
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