28 Nov 2014
USD/CHF retreats from 0.9670 and erases gains
FXStreet (Córdoba) - USD/CHF peaked during the European session at 0.9670, reaching the strongest level in three days but then bounced to the downside and dropped below 0.9640.
The pair lost momentum after the release of EZ inflation data that boosted the euro but then accelerated to the downside and in a few minutes erased all gains. Recently printed a fresh daily low at 0.9630.
Currently trades at 0.9632, less than 5 pips below the price it had at the beginning of the day and 60 pips down for the week so far.
USD/CHF technical levels
To the downside, immediate support could be located at 0.9620 and below here at 0.9605 and 0.9575. To the upside, resistance might lie at 0.9670 (daily high), 0.9700 and 0.9725/30 (Nov 24 high).
The pair lost momentum after the release of EZ inflation data that boosted the euro but then accelerated to the downside and in a few minutes erased all gains. Recently printed a fresh daily low at 0.9630.
Currently trades at 0.9632, less than 5 pips below the price it had at the beginning of the day and 60 pips down for the week so far.
USD/CHF technical levels
To the downside, immediate support could be located at 0.9620 and below here at 0.9605 and 0.9575. To the upside, resistance might lie at 0.9670 (daily high), 0.9700 and 0.9725/30 (Nov 24 high).