26 Mar 2015
USD/CHF falls to fresh 4-week lows, attacks 0.95
FXStreet (Mumbai) - USD/CHF plunges to fresh four week lows in the mid-European session, as traders relentlessly sold-off USD and flocked to safety in CHF amid the Middle East military conflict.
Risk-off trades pushes USD lower
Currently, the USD/CHF trades lower by -0.83% at fresh four week lows at 0.9516 levels, in an attempt to test 0.95 barrier. The pair sinks in red largely on the back of US dollar sell-off across the board as traders gave up the greenback amid risk-off moods sparked by Saudi-Yemen crisis.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies is drops -0.65% at 96.45 levels.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9650 levels and above which it could extend gains to 0.9696 levels. To the downside, immediate support might be located at 0.9500 levels and below that at 0.9444 levels.
Risk-off trades pushes USD lower
Currently, the USD/CHF trades lower by -0.83% at fresh four week lows at 0.9516 levels, in an attempt to test 0.95 barrier. The pair sinks in red largely on the back of US dollar sell-off across the board as traders gave up the greenback amid risk-off moods sparked by Saudi-Yemen crisis.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies is drops -0.65% at 96.45 levels.
USD/CHF Technical Levels
To the upside, the next resistance is located at 0.9650 levels and above which it could extend gains to 0.9696 levels. To the downside, immediate support might be located at 0.9500 levels and below that at 0.9444 levels.