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7 Mar 2014
USD/CHF hits 28-month low
FXStreet (Córdoba) - The USD/CHF extended losses Friday and printed a fresh 28-month low during the European session as the greenback weakened versus the euro and the franc ahead of the US nonfarm payrolls.
The USD/CHF broke below the 0.8775 support area and fell to a low of 0.8755, last seen Oct 31 2010, before finding some support. The pair is currently trading at the 0.8760 zone, recording a 0.4% loss on the day and the week. After peaking at 0.8895 Wednesday, the USD/CHF turned south and gave up weekly gains, falling back below 0.8800 Thursday.
USD/CHF levels to watch
In terms of technical levels, next supports are seen at 0.8755 (2014 low Mar 7), 0.8700 (psychological level) and 0.8612 (daily low Oct 31 2011). On the other hand, resistances could be found at 0.8804 (Mar 7 high), 0.8848 (10-day SMA) and 0.8886 (20-day SMA).
The USD/CHF broke below the 0.8775 support area and fell to a low of 0.8755, last seen Oct 31 2010, before finding some support. The pair is currently trading at the 0.8760 zone, recording a 0.4% loss on the day and the week. After peaking at 0.8895 Wednesday, the USD/CHF turned south and gave up weekly gains, falling back below 0.8800 Thursday.
USD/CHF levels to watch
In terms of technical levels, next supports are seen at 0.8755 (2014 low Mar 7), 0.8700 (psychological level) and 0.8612 (daily low Oct 31 2011). On the other hand, resistances could be found at 0.8804 (Mar 7 high), 0.8848 (10-day SMA) and 0.8886 (20-day SMA).