30 Oct 2014
USD/CHF fails to hold above 0.9600; back to daily lows
FXStreet (San Francisco) - The US dollar was unable to sustain prices above the level of 0.9600 against the Swiss franc after the pair initially reacted positively to the US GDP's headline of 3.5% growth in the Q3.
However, the pair returned to daily lows after investors read the fine print on the fall in consumption and too much government spending.
The USD/CHF fell 55 pips from 0.9610, the highest level since October 7, to test the 0.9550 area. Currently, USD/CHF is trading at 0.9555, up 0.09% on the day, having posted a daily high at 0.9612 and low at 0.9543.
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
USD/CHF levels
If the pair extends drop below the 0.9550, it will find next supports at 0.9540 and 0.9520. To the upside, resistances are at 0.9600, 0.9610 and 0.9620.
However, the pair returned to daily lows after investors read the fine print on the fall in consumption and too much government spending.
The USD/CHF fell 55 pips from 0.9610, the highest level since October 7, to test the 0.9550 area. Currently, USD/CHF is trading at 0.9555, up 0.09% on the day, having posted a daily high at 0.9612 and low at 0.9543.
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
USD/CHF levels
If the pair extends drop below the 0.9550, it will find next supports at 0.9540 and 0.9520. To the upside, resistances are at 0.9600, 0.9610 and 0.9620.