22 Jan 2015
USD/CHF awaits ECB near weekly lows
FXStreet (Córdoba) - USD/CHF is falling modestly on Thursday ahead of the European Central Bank decision, trading slightly below the level it had at the beginning of the week. The pair peaked during the Asian session at 0.8650 and then turned to the downside. Recently bottomed at 0.8546.
During the last hours it has been trading between 0.8620 and 0.8550, near weekly lows. In the short term holds a bearish tone as it holds below an intraday descendant trendline originated at yesterday’s highs.
The ECB outcome and Draghi’s press conference are likely to trigger volatility across the forex market, including the USD/CHF pair. To the downside, important support levels lie at 0.8490/95 (Jan 21 low), 0.8420 and 0.8320. On the upside, the first level is the mentioned bearish trendline and above here 0.8685 and 0.8810/20 (Jan 16, 19 high).
During the last hours it has been trading between 0.8620 and 0.8550, near weekly lows. In the short term holds a bearish tone as it holds below an intraday descendant trendline originated at yesterday’s highs.
The ECB outcome and Draghi’s press conference are likely to trigger volatility across the forex market, including the USD/CHF pair. To the downside, important support levels lie at 0.8490/95 (Jan 21 low), 0.8420 and 0.8320. On the upside, the first level is the mentioned bearish trendline and above here 0.8685 and 0.8810/20 (Jan 16, 19 high).