Forex: USD/CHF surrenders intraday gains, back to 0.9400
FXstreet.com (Córdoba) - After peaking at the 0.9460 area, USDCHF turned lower and surrendered early gains, mirroring EURUSD reverse given the high correlation between the euro and the franc.
USDCHF lost over 60 pips throughout the European session but the decline paused just ahead of the 0.9390 support level, which has contained the pair over the past days. At time of writing, USDCHF is trading at the 0.9400 region, virtually unchanged since opening.
As for technical levels, if the pair breaks below the 0.9390 area, next supports are seen at 0.9380 (Nov 7 low) and 0.9330. On the upside, resistances are now seen at 0.9430 (Nov 20 high), 0.9460 (intraday high) and 0.9490 (Nov 16 high).
USDCHF lost over 60 pips throughout the European session but the decline paused just ahead of the 0.9390 support level, which has contained the pair over the past days. At time of writing, USDCHF is trading at the 0.9400 region, virtually unchanged since opening.
As for technical levels, if the pair breaks below the 0.9390 area, next supports are seen at 0.9380 (Nov 7 low) and 0.9330. On the upside, resistances are now seen at 0.9430 (Nov 20 high), 0.9460 (intraday high) and 0.9490 (Nov 16 high).
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