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21 Aug 2015
USD/CHF extends losses to 1-month low
FXStreet (Córdoba) - Safe-haven currencies are outperforming on Friday amid a strong sell-off in equities and with the dollar still suffering on the back of FOMC minutes.
USD/CHF is falling for fourth day in a row, having lost nearly 300 pips so far this week, as the seek for safety dominates trading. USD/CHF extended losses below the 200-day SMA and scored its lowest level since Jul 23 at 0.9528 at the beginning of the New York session. At time of writing, the pair is trading at 0.9535, still 0.50% below its opening price.
USD/CHF technical levels
In terms of technical levels, USD/CHF could find next supports at 0.9528 (Aug 21 low), 0.9500 (psychological level) and 0.9485 (100-day SMA). On the other hand, resistances are seen at 0.9594 (Aug 21 high), 0.9643 (Aug 19 low) and 0.9670 (Aug 20 high).
USD/CHF is falling for fourth day in a row, having lost nearly 300 pips so far this week, as the seek for safety dominates trading. USD/CHF extended losses below the 200-day SMA and scored its lowest level since Jul 23 at 0.9528 at the beginning of the New York session. At time of writing, the pair is trading at 0.9535, still 0.50% below its opening price.
USD/CHF technical levels
In terms of technical levels, USD/CHF could find next supports at 0.9528 (Aug 21 low), 0.9500 (psychological level) and 0.9485 (100-day SMA). On the other hand, resistances are seen at 0.9594 (Aug 21 high), 0.9643 (Aug 19 low) and 0.9670 (Aug 20 high).