24 Mar 2014
USD/CHF retreats sharply, hits 3-day low
FXStreet (Córdoba) - The USD/CHF plummeted during the American session and fell to 0.8786 reaching the lowest price since last Wednesday. The pair was testing last week highs below 0.8870 but failed to break higher, lost momentum and retreated sharply.
After bottoming at 0.8786 rebounded and rose back above 0.8800. Despite bouncing from the lows the USD/CHF is headed toward the second daily loss in a row. At the moment of writing trades at 0.8808, 0.21% lower for the day.
On Thursday the USD/CHF also found sellers around 0.8870 and then pulled back, closing the day below 0.8850. Despite the retreat the pair still holds some bullish bias in the short term, but to rally further it would have to break the strong barrier at 0.8860/70.
After bottoming at 0.8786 rebounded and rose back above 0.8800. Despite bouncing from the lows the USD/CHF is headed toward the second daily loss in a row. At the moment of writing trades at 0.8808, 0.21% lower for the day.
On Thursday the USD/CHF also found sellers around 0.8870 and then pulled back, closing the day below 0.8850. Despite the retreat the pair still holds some bullish bias in the short term, but to rally further it would have to break the strong barrier at 0.8860/70.