2 May 2014
USD/CHF retreats and falls below 0.8800
FXStreet (Córdoba) - The USD/CHF fell more than 60 pips from daily highs and approached daily lows that lie at 0.8778. Currently the pair trades at 0.8780, down 0.13% for the day. After NFP the pair jumped to 0.8840 but then retreated sharply erasing all gains as the US dollar tumbled across the board.
Price remains near daily lows with Greenback still under pressure as Wall Street heads for it closing.
Levels to watch for USD/CHF
The USD/CHF is falling for the third day in a row, holding a bearish bias after it was unable to hold on top of 0.8850. To the downside below the lows, immediate support could be located at 0.8765 and then 0.8740/50 (April lows). To the upside, before 0.8850, US dollar could find resistance around 0.8810.
Price remains near daily lows with Greenback still under pressure as Wall Street heads for it closing.
Levels to watch for USD/CHF
The USD/CHF is falling for the third day in a row, holding a bearish bias after it was unable to hold on top of 0.8850. To the downside below the lows, immediate support could be located at 0.8765 and then 0.8740/50 (April lows). To the upside, before 0.8850, US dollar could find resistance around 0.8810.