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15 Aug 2013
USD/CHF violates support, plunging to intraday lows
FXstreet.com (Chicago) - USD/CHF dropped to 0.9248 weekly lows as dollar sell off continues.
The dollar has weakened against most currency majors amid intense speculations on Fed’s decision to extend billionaire bond buying activity.
Price action indicates the pair has lost 0.93% so far as the American trading session comes to an end. Trading at 0.9252, the pair has violated immediate support at 0.9262 (June 16th highs) and approaches aligned supports at 0.9237 (August 6th lows) ahead of 0.9214 (August 10th lows). On the upside, resistances are aligned at 0.9286 (August 7th highs), 0.9310 (June 22nd lows) followed by 0.9330 (July 31st highs). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis.
The dollar has weakened against most currency majors amid intense speculations on Fed’s decision to extend billionaire bond buying activity.
Price action indicates the pair has lost 0.93% so far as the American trading session comes to an end. Trading at 0.9252, the pair has violated immediate support at 0.9262 (June 16th highs) and approaches aligned supports at 0.9237 (August 6th lows) ahead of 0.9214 (August 10th lows). On the upside, resistances are aligned at 0.9286 (August 7th highs), 0.9310 (June 22nd lows) followed by 0.9330 (July 31st highs). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis.