29 Apr 2015
USD/CHF extends losses below 0.9400
FXStreet (Córdoba) - USD/CHF accelerated losses over the last minutes as another wave of dollar selling hit the market. The dollar weakened sharply across the board amid signs the US economy is stalling after GDP grew by a mere 0.2% in the first quarter, according to the preliminary estimate.
USD/CHF turned lower and having fallen nearly 200 pips over the last hours, it recently scored a fresh 2-month low of 0.9382. At time of writing, the pair is trading at 0.9410, recording a 1.45% loss on the day.
Next risk event will be the Federal Reserve monetary policy decision at 18:00 GMT. Although no policy changes are expected, investors will be closely watching the FOMC language looking for clues to the timing of a rate hike.
USD/CHF levels to watch
As for technical levels, immediate supports are seen at 0.9382 (daily low), 0.9374 (Feb 20 low) and 0.9314 (Feb 18 low). On the other hand, resistances line up at 0.9490 (200-day SMA), 0.9571 (daily high) and 0.9582 (100-day SMA).
USD/CHF turned lower and having fallen nearly 200 pips over the last hours, it recently scored a fresh 2-month low of 0.9382. At time of writing, the pair is trading at 0.9410, recording a 1.45% loss on the day.
Next risk event will be the Federal Reserve monetary policy decision at 18:00 GMT. Although no policy changes are expected, investors will be closely watching the FOMC language looking for clues to the timing of a rate hike.
USD/CHF levels to watch
As for technical levels, immediate supports are seen at 0.9382 (daily low), 0.9374 (Feb 20 low) and 0.9314 (Feb 18 low). On the other hand, resistances line up at 0.9490 (200-day SMA), 0.9571 (daily high) and 0.9582 (100-day SMA).