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18 Mar 2015
USD/CHF hovers near lows around 1.0045
FXStreet (Mumbai) - USD/CHF remains near lows in the mid-European session, mainly driven by broad based US dollar weakness before the release of crucial FOMC statement later in the US trading.
USD/CHF trades below 5-DMA
Currently, the USD/CHF drops -0.21% and trades at 1.0042 levels, retreating slightly from session low previously posted at 1.0038. The pair reversed gains and edged lower largely on persistent greenback weakness against its major competitors after the USD was heavily sold following weak US housing data released yesterday.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies declines to 99.92, recording a -0.12% loss on the day.
Meanwhile, traders now turn their attention towards the FOMC statement for further momentum on the pair.
USD/CHF Technical Levels
To the upside, the next resistance is located at 1.0100 levels and above which it could extend gains to 1.0131 levels. To the downside, immediate support might be located at 1.00 levels and below that at 0.9966 levels.
USD/CHF trades below 5-DMA
Currently, the USD/CHF drops -0.21% and trades at 1.0042 levels, retreating slightly from session low previously posted at 1.0038. The pair reversed gains and edged lower largely on persistent greenback weakness against its major competitors after the USD was heavily sold following weak US housing data released yesterday.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies declines to 99.92, recording a -0.12% loss on the day.
Meanwhile, traders now turn their attention towards the FOMC statement for further momentum on the pair.
USD/CHF Technical Levels
To the upside, the next resistance is located at 1.0100 levels and above which it could extend gains to 1.0131 levels. To the downside, immediate support might be located at 1.00 levels and below that at 0.9966 levels.