7 Apr 2014
USD/CHF breaks below 0.8900
FXStreet (Córdoba) - The USD/CHF came under pressure and broke below the 0.8900 mark during the European session following higher-than-expected Swiss CPI data.
The Swiss consumer price index grew 0.4% in March versus 0.2% expected while YoY CPI was flat versus -0.1% forecast. Coupled with that, USD weakness persists across the board in quite slow Monday trading. The USD/CHF is extending a pullback from the 100-day SMA around 0.8950, having fallen to a low of 0.8883 so far. At time of writing, the pair is trading at the 0.8890 area, recording a 0.3% loss on the day.
USD/CHF technical levels
In terms of technical levels, if the USD/CHF breaks below 0.8883, next supports could be found at 0.8866 (10-day SMA) and 0.8843 (Apr 3 low). On the flip side, resistances are seen at 0.8945 (100-day SMA) and 0.9000 (psychological level).
The Swiss consumer price index grew 0.4% in March versus 0.2% expected while YoY CPI was flat versus -0.1% forecast. Coupled with that, USD weakness persists across the board in quite slow Monday trading. The USD/CHF is extending a pullback from the 100-day SMA around 0.8950, having fallen to a low of 0.8883 so far. At time of writing, the pair is trading at the 0.8890 area, recording a 0.3% loss on the day.
USD/CHF technical levels
In terms of technical levels, if the USD/CHF breaks below 0.8883, next supports could be found at 0.8866 (10-day SMA) and 0.8843 (Apr 3 low). On the flip side, resistances are seen at 0.8945 (100-day SMA) and 0.9000 (psychological level).