23 Jan 2014
USD/CHF collapses below 0.9000 and lost 7 days of gains
FXstreet.com (San Francisco) - The USD/CHF is extending its decline from 0.9130 and now it is testing sub-0.90 levels amid EUR/USD rally negative correlation and SNB move. The USD/CHF fell close to 0.8990, lowest since January 14.
The Swiss Franc is strengthening broadly after the SNB increased the capital buffer banks will need to hold against property exposure from 1% to 2%.
The UD Dollar to Swiss Franc is now pricing at 0.8995, 1.30% down in the day. The short term perspective is slightly bearish according to the FXStreet trend index in the 15-minute chart. MACD, CCI, and Momentum are pointing to the south while the Stochastic is bullish.
USD/CHF levels
If the pair remains below the 0.9000 area, supports would come at 0.8985 and 0.8925. On the upside, the USD/CHF would face resistances at 0.9005, 0.9040 and 0.9075.
The Swiss Franc is strengthening broadly after the SNB increased the capital buffer banks will need to hold against property exposure from 1% to 2%.
The UD Dollar to Swiss Franc is now pricing at 0.8995, 1.30% down in the day. The short term perspective is slightly bearish according to the FXStreet trend index in the 15-minute chart. MACD, CCI, and Momentum are pointing to the south while the Stochastic is bullish.
USD/CHF levels
If the pair remains below the 0.9000 area, supports would come at 0.8985 and 0.8925. On the upside, the USD/CHF would face resistances at 0.9005, 0.9040 and 0.9075.