16 Jan 2014
USD/CHF falls to fresh daily lows
FXstreet.com (Córdoba) - The USD/CHF pierced below the 200- and 100-hour SMA's and fell to fresh daily lows during the New York session following the latest string of US data.
US consumer price index rose 0.3% in December and 1.5% YoY meeting market's expectations but still below the Fed's long-term target. The USD weakened and fell to a low of 0.9036 before finding support and recovering slightly. At time of writing, the USD/CHF is trading around 0.9050, still recording a 0.4% daily loss following 2 days of gains.
USD/CHF levels to watch
In terms of technical levels, the USD/CHF could find immediate supports at 0.9036 (Jan 16 low), 0.9025 (Jan 15 low) and 0.9000 (psychological level). On the flip side, resistances are seen at the 0.9100/07 area (psychological level/Jan 15 high), 0.9126 (Jan 8 high) and 0.9150 (Nov 22 high).
US consumer price index rose 0.3% in December and 1.5% YoY meeting market's expectations but still below the Fed's long-term target. The USD weakened and fell to a low of 0.9036 before finding support and recovering slightly. At time of writing, the USD/CHF is trading around 0.9050, still recording a 0.4% daily loss following 2 days of gains.
USD/CHF levels to watch
In terms of technical levels, the USD/CHF could find immediate supports at 0.9036 (Jan 16 low), 0.9025 (Jan 15 low) and 0.9000 (psychological level). On the flip side, resistances are seen at the 0.9100/07 area (psychological level/Jan 15 high), 0.9126 (Jan 8 high) and 0.9150 (Nov 22 high).