6 Feb 2014
USD/CHF collapses bellow 0.9000 as Draghi exposes hawkish stance
FXStreet (San Francisco) - The USD/CHF is falling hard as the pair is reacting to Mario Draghi pretty hawkish stance and its negative correlation with the EUR/USD. USD/CHF fell around 90 pips in the latest few minutes to trade below 0.9000
The ECB decided to maintain unchanged its interest rate at 0.25 and Mario Draghi commented, in his after-decision speech, that the inflation would remain low but it is not a big deal as the ECB has enough tools to use if necessary.
Following the ECB decision the USD/CHF collapsed around 90 pips from 0.9060 to break below the 0.9000 area and trade around 0.8970, February's low.
USD/CHF sentiment
Currently, the USD/CHF is trading at 0.8975, 0.70% negative on 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 neutral.
The ECB decided to maintain unchanged its interest rate at 0.25 and Mario Draghi commented, in his after-decision speech, that the inflation would remain low but it is not a big deal as the ECB has enough tools to use if necessary.
Following the ECB decision the USD/CHF collapsed around 90 pips from 0.9060 to break below the 0.9000 area and trade around 0.8970, February's low.
USD/CHF sentiment
Currently, the USD/CHF is trading at 0.8975, 0.70% negative on 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 neutral.