USD/CHF Falling for the Fifth Day in a Row

USD/CHF Falling for the Fifth Day in a Row

29 April 2016, 15:13
Roberto Jacobs
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USD/CHF Falling for the Fifth Day in a Row

The Swiss franc extended gains versus the US dollar on Friday. Since the beginning of the week USD/CHF lost 150 pips and recently bottomed at 0.9606, the lowest level in a week.

The pair today accelerate to the downside after breaking below 0.9650. The decline found support above 0.9600 and it was trading at 0.9620/25, down 0.38% for the day, ahead of the release of the personal income and spending report in the US. Greenback is falling across the board again, extending weekly losses.

USD/CHF levels to watch

To the downside, immediate resistance is seen around 0.9600/05 (daily low / psychological) and below here at 0.9580/85 (last week lows) and 0.9545 (Apr 5 & 13 low). On the opposite direction, resistance might be located at 0.9645 (European session high / 20-hour moving average), 0.9690 (Apr 14 & 15 high / short-term downtrend line from Apr 22 high) and 0.9735 (Apr 28 high / Apr 25 low).


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