19 Aug 2015
USD/CHF fall to 3-week lows after FOMC minutes
FXStreet (Córdoba) - USD/CHF fell further and printed its lowest level in near 3 weeks as the dollar weakened after the FOMC minutes failed to provide clear signs of an imminent rate hike in September.
USD/CHF extended losses below the 0.97 mark and stretched to its lowest level since Aug 1 at 0.9643 before finding support. At time of writing, USD/CHF is trading at 0.9650, recording a 1.25% loss on the day.
The dollar came under renewed pressure across the board after FOMC minutes showed according to most officials, conditions for policy firming had not yet been achieved, but they noted that conditions were approaching that point.
USD/CHF levels to watch
In terms of technical levels, immediate supports are seen at 0.9643 (Aug 1 low), 0.9600 (psychological level) and 0.9548 (Jul 31 low). ON the flip side, resistances could be found at 0.9722 (21-day SMA), 0.9777 (Aug 19 high) and 0.9800 (psychological level).
USD/CHF extended losses below the 0.97 mark and stretched to its lowest level since Aug 1 at 0.9643 before finding support. At time of writing, USD/CHF is trading at 0.9650, recording a 1.25% loss on the day.
The dollar came under renewed pressure across the board after FOMC minutes showed according to most officials, conditions for policy firming had not yet been achieved, but they noted that conditions were approaching that point.
USD/CHF levels to watch
In terms of technical levels, immediate supports are seen at 0.9643 (Aug 1 low), 0.9600 (psychological level) and 0.9548 (Jul 31 low). ON the flip side, resistances could be found at 0.9722 (21-day SMA), 0.9777 (Aug 19 high) and 0.9800 (psychological level).