28 Sep 2015
USD/CHF hit fresh session lows, Dow Jones down 1%
FXStreet (Mumbai) - The bid tone around the safe haven CHF gathered pace amid losses in the European stocks and pushed the USD/CHF pair to a session low of 0.9760.
Trades below hourly 100-MA
The spot now trades below its hourly 100-MA located at 0.9772 levels. The CHF and other safe haven assets like the Yen and the treasuries advanced as the US equities suffered losses. The disappointing US pending home sales report also added to the bearish pressure on the USD, especially against the safe haven currencies.
The pair was rejected above 0.98 earlier today for the fourth time this month. At the moment, the pair is trading around 0.9763 levels; down 0.18% on the day.
USD/CHF Technical Levels
The immediate support is located at 0.9756 (5-DMA), under which losses could be extended to 0.9726 (10-DMA). On the other side, resistance is located at 0.9843 (Sep 25 high) and 0.9903 (Aug 11 high).
Trades below hourly 100-MA
The spot now trades below its hourly 100-MA located at 0.9772 levels. The CHF and other safe haven assets like the Yen and the treasuries advanced as the US equities suffered losses. The disappointing US pending home sales report also added to the bearish pressure on the USD, especially against the safe haven currencies.
The pair was rejected above 0.98 earlier today for the fourth time this month. At the moment, the pair is trading around 0.9763 levels; down 0.18% on the day.
USD/CHF Technical Levels
The immediate support is located at 0.9756 (5-DMA), under which losses could be extended to 0.9726 (10-DMA). On the other side, resistance is located at 0.9843 (Sep 25 high) and 0.9903 (Aug 11 high).